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News - 4 February 2014

Rapid growth for UK construction sector

The Markit/CIPS purchasing managers' index (PMI) for the construction sector rose to 64.6 in January. This was up from 62.1 in December and well above the 50 level that marks expansion.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“It was also the strongest reading since August 2007 and one of the highest figures since the survey began in 1997. This was also the best figures for residential house building, which had expanded at its fastest rate since November 2003.”

January also saw commercial building work and civil engineering activity both rising at their fastest pace for six and a half years, and it said volumes of new work had increased for a ninth consecutive month.  The industry also saw jobs increase for the eighth month in a row.

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 Tonmoy Kumar to discuss how ABDS can help

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

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