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UK Construction Activity Surges in July 2024 - The latest S&P Global UK Construction PMI data shows a marked acceleration in growth as we entered the second half of 2024: • Construction activity expanded at the fastest pace in 26 months (PMI at 55.3) • New orders increased at the sharpest rate since April 2022  • All three sectors (housing, commercial, civil engineering) saw growth • Employment rose for the third straight month • Input cost inflation picked up, though remains below historical averages Key takeaway: The construction sector appears to be rebounding strongly, with improved customer confidence leading to the release of previously paused projects. This momentum could provide a boost to the wider UK economy in the coming months. What are your thoughts on these latest construction figures? Do you see this growth trend continuing? #UKConstruction #EconomicIndicators #PMIData

The continued optimism in S&P’s Index survey is heartening. However, it is in slight contrast to the data that we’ve seen in our planning process data for July. Contract awards, planning approvals and planning applications are all down at least 20% from this same period last year (Barbour ABI). Hopefully the customer confidence that S&P reference continues to climb and we see a spike in approvals and awards in the coming weeks!

The latest S&P Construction PMI has seen the strongest rise in commercial construction activity for two-and-a-half years, new figures have revealed. November PMIs saw a tracker rating of 55.2, up from October’s 54.3, demonstrating an acceleration in the expansion of overall construction activity. The data highlighted what it describes as a "robust upturn in UK construction output". However, the report also saw a loss of momentum for new work, alongside concerns about rising employment costs. Find out more: https://lnkd.in/eedPreri

UK construction activity grows at fastest pace for more than a year PMI reading strengthens as expectations of economic rebound and rate cuts boost demand https://buff.ly/4bylgFp #goodnews #construction #constructionnews

UK construction activity grows at fastest pace for more than a year PMI reading strengthens as expectations of economic rebound and rate cuts boost demand https://buff.ly/4bylgFp #goodnews #construction #constructionnews

Hot off the press! New International Construction Report highlights implications of skills gaps for UKs economic growth. NOCN Group have released a new report that analyses the current global construction skills landscape and the implications of skills gaps for the UK’s economic growth. It raises questions for the new Government’s approach to setting up Skills England, as well as investment in 1.5 million new homes and Net-Zero infrastructure projects. The report sets out that the CITB estimates that the UK will need an extra 250,000 workers by 2030 and the Engineering Construction Industry Training Board (ECITB) forecasts that the total could be 280,000 and that this will require a nearly 15% increase in the construction industry’s workforce. Read the full release and report here: https://lnkd.in/ecqhedYK Melanie Jackson, Graham Hasting-Evans

UK Construction Sector Shows Resilience in November 2024, the latest S&P Global Construction PMI reveals. 🏗️ Total activity index rose to 55.2, signalling continued expansion 🏢 Commercial construction hit its strongest growth in 2.5 years (58.1 index) 🌉 Civil engineering remains strong at 55.9 🏘️ Housing sector keeps struggling, declining at the sharpest rate since June Some key challenges persist: 💲 Elevated borrowing costs dampening residential construction ↘️ Slowing new order growth 👷♀️ Job creation lose momentum Despite headwinds, the construction sector demonstrates remarkable adaptability. Businesses are navigating challenges through strategic approaches like increased sub-contractor usage and careful cost management. #UKConstruction #EconomicInsights #BusinessTrends

Construction Keeps Up the Momentum: Solid Output Growth in August 👷♀️ 👷♂️ The UK construction sector continues its positive trajectory, with the latest figures showing sustained growth in August. This sustained performance is encouraging news for the industry. Key Takeaways: ✨ Construction output saw a 0.8% month-on-month increase in August 2024, maintaining the positive trend of recent months. ✨ The repair and maintenance sector continues to be the main driver of growth, with consistent output increases. ✨ Infrastructure projects are also contributing positively, with ongoing investment fueling activity. What Does This Mean? This continued growth signifies a period of stability for the construction industry. However, it's important to acknowledge potential challenges: ⭕ Material shortages - Ongoing supply chain disruptions and rising material costs could impact future projects. ⭕ Skilled labor shortages - The continued need for skilled workers remains a concern. Looking Ahead: Despite potential challenges, the current momentum in the UK construction sector is positive. By addressing key issues like material shortages and workforce gaps, the industry can build on this momentum and ensure sustained growth. What are your thoughts on the latest construction output figures? Share your insights and industry experiences in the comments below! #construction #ukconstruction #growth #buildersmerchantsnews #infrastructure #repairandmaintenance #constructionjobs #futureofconstruction #myhiltigb

The UK construction industry has demonstrated a positive turn in Q3 2024. After three consecutive quarters of decline, the sector witnessed a growth of 0.8%, driving quarterly GDP growth. 🏗️ New work outpaced repair and maintenance work for the first time since Q4 2022, increasing by 2.0%, particularly driven by infrastructure projects. 🛠️ Overall repair and maintenance decreased for the first time since Q3 2021. The decline was primarily due to a drop in private housing repairs. 📈 Despite the quarterly growth, the sector remains 0.4% below the same period in 2023. This uptick in construction activity is a promising sign for the industry. However, challenges such as labour shortages, material cost pressures, and economic uncertainty persist. It's crucial to monitor the sector closely to assess the sustainability of this recovery. #construction #ukeconomy #constructionindustry #economicoutlook