Thorn Baker Construction’s Post

📈 Construction industry news update! 📈 There's exciting times in the construction sector as the UK Construction PMI (Construction purchasing managers index) hits a 14-month high! Despite house-building taking a slight dip, things are looking positive💪. The Commercial sector is booming, and notably, the civil engineering sector isn’t far behind, marking its best performance in over half a year. The housing market scored 47.6, indicating negative growth, but the demand for construction expertise is high, with new business volumes increasing for the third successive month in April👏. Thanks to civil engineering and commercial construction making up for the dip, the industry has witnessed its strongest growth since early 2023👌. Click the link below to read more about the Construction PMI👇 #ConstructionGrowth #UKConstruction #Commercial #Residential #IndustryNews 

👷Construction Industry Update👷   The construction sector is showing some interesting trends this summer... June’s S&P Global UK Construction PMI dipped to 52.2 from May's 54.7 yet stayed above the growth threshold for the fourth month. 📈 The commercial sector continues to be the main driver of expansion within the industry, despite a slight slowdown, while the house-building category was the only category to record a decline, where output fell solidly.   New contracts have fuelled order growth within the industry, but at a slower pace amid election-caused uncertainties in June and July. 🗳️ It’s an exciting time to observe how these dynamics play out, particularly with firms increasing staffing at the sharpest rate in ten months and maintaining steady purchasing. Overall, the outlook for construction remains positive with expectations of interest rate decreasing. Click below to read more👇   #Construction #UKjobs #Growth

It’s good to see confidence returning to construction, with the headline S&P Global UK Construction Purchasing Managers’ Index (PMI) indicating a solid expansion of overall construction output, as reported on The Construction Index Ltd. #construction #constructionoutput #constructionindustry https://lnkd.in/eQuFbQWW

Fastest expansion of construction output since February 2023 🏗️📈 Business activity growth gained momentum across the UK construction sector in April, largely due to solid rates of expansion in the commercial and civil engineering segments, according to the latest S&P Global UK Construction Purchasing Managers Index (PMI). Near-term prospects remained relatively positive, as new work increased for the third month running amid reports of a boost to sales from improving domestic economic conditions. Supplier lead times meanwhile shortened to the greatest extent in 2024 so far, which survey respondents linked to rising materials availability and relatively soft demand for construction inputs. At 53.0 in April, up from 50.2 in March, the headline S&P Global UK Construction Purchasing Managers’ Index™ (PMI®) – a seasonally adjusted index tracking changes in total industry activity – registered in positive territory for the second month running and signalled the strongest pace of expansion since February 2023. Continue reading... https://lnkd.in/epXzS4xz #property #construction #growth #success #expansion #building #businessnews #businessintelligence

Growth accelerated in the UK construction sector in July seeing much faster increases in both activity and new orders during the month. In turn, firms ramped up purchasing activity and raised staffing levels for the third month running. Higher demand for inputs imparted some pressure on supply chains, and input costs increased at a faster pace. The headline S&P Global UK Construction Purchasing Managers’ Index™ (PMI®) – a seasonally adjusted index tracking changes in total industry activity – rose sharply to 55.3 in July from 52.2 in June. The reading signalled a marked monthly expansion in total activity in the construction sector, extending the current sequence of growth to five months. The rate of expansion was the fastest since May 2022. All three categories of construction saw activity increase in July as work on housing projects returned to growth. Commercial activity increased solidly, but the fastest expansion was seen in civil engineering activity, where the rate of growth quickened to the sharpest in almost two-and-a-half years. According to respondents, success in securing new orders was the main factor leading to a rise in construction activity at the start of the third quarter. New business expanded for the sixth month running, and at a marked pace that was the strongest since April 2022. Alongside a general improvement in market demand, there were also reports that customer confidence had strengthened, making them more willing to release previously paused projects. Rising workloads led construction firms to expand both their purchasing activity and employment more quickly in July. Staffing levels were up for the third consecutive month, and at a solid pace that was the fastest for a year. Meanwhile, a strong rise in purchasing activity was the most Activity rises amid much faster increase in new orders. #construction #growth #pmi

The UK construction activity posted its fastest expansion in nearly two-and-a-half years in September on improving output and new order growth amid falling interest rates, survey data from S&P Global revealed Friday. The construction Purchasing Managers' Index registered 57.2 in September, up from 53.6 in August. The reading was forecast to climb moderately to 53.1. The index has remained above the neutral 50.0 threshold for the seventh straight month and the reading suggested the steepest rate of growth in 29 months. All three sub-sectors of construction showed faster rates of output growth. Civil engineering was the best-performing category. #UKeconomy #UKConstruction #construction #PMI #civilengineering

Building Cost Information Services (BICS) has just released a comprehensive five-year construction forecast. The data projects a 15% increase in building costs and a 19% rise in tender prices over the next five years. Despite this, there's an expected 5.5% decrease in overall output for 2024, attributed mainly to reduced output in housing, private commercial, and industrial sectors as per BCIS analysis. However, there is hope on the horizon as growth is predicted to rebound in 2025, with a substantial 20% increase in total new work output by the second quarter of 2029. For a detailed analysis, check out the link below. Stay informed about the latest trends in the construction industry! For more in-depth analysis, visit: https://lnkd.in/epYeWs2K The Construction Index Ltd #Construction #BuildingCost #MarketUpdate

August's report from construction purchasing managers makes for some good reading. It shows a positive rebound for the UK Construction sector, with its 6th consecutive month of growth!   Positive snippets that I've taken from this report:   - Residential work uplift: House-building gained momentum, with growth accelerating to its fastest pace since September 2022, driven by improved market conditions and lower borrowing costs. - Commercial activity is leading the way: This segment remained the best-performing, despite a slowdown in growth. - Civil engineering steadily moving forward: Growth in this area was modest and weaker than in previous months. - Employment challenges still ever-present across the industry: Staffing levels stagnated, with companies cautious about backfilling vacancies due to cost concerns. - New order acquisition is on the rise : There was a robust increase in new work, reflecting stronger demand driven by improved economic conditions and political stability. Confidence breeds investment.   In short, sector confidence, greater stability and government support is what will help drive greater investment. Albeit with political change poses an air of uncertainty for our industry. https://lnkd.in/ehVG7M8w

According to the latest UK Construction PMI report from S&P Global, UK construction companies indicated a sustained rebound in total business activity in August although the pace of expansion eased slightly since July. Click or tap the following link for the full story, including comment from Tim Moore, Economics Director at S&P Global Market Intelligence which compiles the survey: https://lnkd.in/etG2eNY2 #ukconstruction #buildingmaterials #housebuilding

UK Construction PMI®: 𝗧𝗼𝘁𝗮𝗹 𝗢𝘂𝘁𝗽𝘂𝘁 𝗖𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀 𝘁𝗼 𝗥𝗶𝘀𝗲 𝗗𝗲𝘀𝗽𝗶𝘁𝗲 𝗥𝗲𝗻𝗲𝘄𝗲𝗱 𝗗𝗿𝗼𝗽 𝗶𝗻 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗔𝗰𝘁𝗶𝘃𝗶𝘁𝘆 Key Findings: - Commercial category leads growth - Sharpest rise in employment for ten months - Inflationary pressures remain muted The UK #construction sector remained inside growth territory as the second quarter of the year drew to a close, although the overall expansion softened amid a renewed fall in #housing activity. A slower rise in new orders was also recorded, in some cases linked to election uncertainty, but the pace of job creation picked up. Meanwhile, the rate of input cost inflation quickened from May, but remained muted. The headline S&P Global UK Construction Purchasing Managers’ Index™ (PMI®) – a seasonally adjusted index tracking changes in total industry activity – registered 52.2 in June, down from 54.7 in May. Remaining above the 50.0 no-change mark for the fourth consecutive month, the latest reading signalled a sustained improvement in overall construction activity in the UK, albeit with the pace of growth softening from the previous month. The main driver of growth continued to come from ..... (click link below to continue reading) https://lnkd.in/eDiCayZj