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Latest data released by Markit/CIPS – 7 January 2021
The UK construction sector continues its recovery towards the end of last year, with house building carrying the bulk of the weight once again. Output expansion maintained for a seventh straight month while employment conditions returned to growth last month.
Markit notes that:
“December data illustrated a positive end to the year
for the UK construction sector, mostly fuelled by a
sharp rebound in house building. Overall output growth
has slowed in comparison to the catch-up phase last
summer, but now it is encouraging to see the recovery
driven by new projects and stronger underlying
demand.“A sustained improvement in construction order books
resulted in a rise in employment numbers for the first
time in nearly two years and the most optimistic growth
expectations since April 2017. Construction companies
are hopeful that higher demand will broaden out
beyond residential projects in the next 12 months, led by
infrastructure spending and a potential rebound in new
commercial work from the depressed levels seen during
the pandemic.“Transport delays and a lack of stock among suppliers
were the main difficulties reported by UK construction
firms at the end of 2020, which contributed to the fastest
rise in purchasing prices for nearly two years.”