Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

UK Construction Industry Rebounds, Ending Six-Month Decline

by April 8, 2024
April 8, 2024
UK Construction Industry Rebounds, Ending Six-Month Decline

The UK construction industry has marked a significant turnaround, returning to growth after enduring six consecutive months of decline, as revealed by a closely monitored survey.

S&P Global’s survey highlighted a resurgence in civil engineering projects and a stabilization in housebuilding activities as key drivers behind the sector’s recovery.

The Purchasing Managers’ Index (PMI) score, derived from the survey data, climbed to 50.2 in March, surpassing February’s 49.7 and marking the highest reading since August of the previous year. A PMI score above 50 indicates expansion in the sector.

Tim Moore, S&P Global’s Economics Director, noted the promising outlook for the industry, citing improvements in order books and a rebound in tender opportunities. He attributed these positive developments to factors such as reduced borrowing costs and early signs of economic recovery in the UK during the first quarter of 2024.

However, Moore highlighted persistent challenges in hiring, with concerns over margin pressures and risk aversion among major clients hindering employment growth. Delays in replacing departing staff led to a decline in total employment numbers for the third consecutive month.

S&P Global’s survey also revealed a moderation in supply chain pressures, signaling some relief for the sector.

Earlier this week, a similar survey focusing on the UK manufacturing industry reported growth for the first time in 20 months, signaling a gradual economic recovery from the impact of high inflation in the previous year.

The Competition and Markets Authority (CMA) recently raised concerns about the inadequate delivery of new homes in the UK, prompting an investigation into major housebuilders. The widening gap between housing supply and demand has been a pressing issue addressed by the regulator.

Matthew Pointon from Capital Economics interpreted the latest PMI figures optimistically, forecasting a gradual rise in construction activity driven by falling interest rates. He noted a slight improvement in housing activity, suggesting stabilization in housing construction and a recovery in demand as mortgage rates ease.

While acknowledging recent fluctuations in interest rates, Pointon highlighted data from the National House Building Council (NHBC), indicating a recovery in housing starts from the lows observed in the latter half of the previous year.

Read more:
UK Construction Industry Rebounds, Ending Six-Month Decline

0
FacebookTwitterGoogle +Pinterest
previous post
Retailers Warn Stringent Crackdown on Greenwashing Could Stifle Sustainability Efforts
next post
The Body Shop’s Administrators Consider CVA as Rescue Path

You may also like

Amazon to start cutting 10,000 jobs within days

November 15, 2022

Average household energy bills to hit £3,000 a...

November 18, 2022

Elon Musk reinstates Katie Hopkins and Tommy Robinson...

November 6, 2023

Custom Plastic Components Manufacturer Achieves Full Traceability with...

September 3, 2024

Arti Modi Discuss How She Is Helping Change...

November 30, 2022

UK house prices rise for third consecutive month,...

October 7, 2024

Skills crisis holding back the majority of SMEs...

September 26, 2023

50 years on from Thatcher’s rise: is Britain...

February 11, 2025

The Ethics of Video Redaction: Balancing Privacy and...

May 24, 2024

Stocks Rise as Rishi Sunak Becomes Prime Minister

November 10, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved