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News - 8 January 2015

UK construction PMI falls to lowest since July 2013


According to the latest Markit/CIPS construction purchasing managers' index, Britain's construction sector grew at its slowest rate since July 2013 last month, however, house building remained robust, with residential construction enjoying its strongest year since at least 1997.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“The weakest sector was civil engineering, which reported an outright fall in output for the first time since May 2013, while the rapid rate of growth in house-building eased slightly to its lowest since June 2013.”

But Markit said 2014 still marked the best year for British house building since it started collecting records in 1997. The survey also showed signs that wages might be starting to rise in the sector, with rates paid to subcontractors growing almost as rapidly as November's record-high pace.

Construction makes up 6 percent of Britain's economy. A similar survey of the manufacturing sector published by Markit on Friday also showed slower growth


If you need any help and advice for your business on the implications of central and local Government Funding initiatives and the construction industry, contact Lavinia Newman, Stuart Coleman or Liz Kennett to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business

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