UK construction firms experience slowdown in growth in March.

April 5, 2017

The UK construction purchasing-managers’ index  from Markit and the Chartered Institute of Procurement and Supply (CIPS)  slipped to a seasonally adjusted 52.2 in March from 52.5 in February and against market consensus for a reading of 52.4 the survey revealed on Tuesday 4th April.

March data revealed that a slowdown in growth was seen across the UK construction sector, led by a weaker rise in residential building activity. Only a modest increase in new work contributed to employment levels slowing to a three-month low but remaining in growth mode. The latest survey also found that construction companies remain relatively upbeat about their near-term growth prospects, partly reflecting a stabilisation of client confidence from the post-referendum lows seen in 2016. Markit found optimism regarding year-ahead business activity picked up in March to its second-highest since December 2015.

Senior IHS Markit economist Tim Moore said: “UK construction firms experienced a growth slowdown in March, with the loss of momentum centred on house building. A weaker trend for residential work has been reported throughout 2017so far, which provides an indication that the cooling UK housing market has started to act as a drag on the construction sector”.

Source of information Markit/CIPS

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

small house bird box
Breaking News

Public Sentiment Favours Social Infrastructure Over Housing Resistance

Britain is more YIMBY than NIMBY, as social housing tops consumers’ housing policy priorities   More than two in five UK adults support new homes being built within three miles of where they live (43 per cent), nearly twice the proportion who oppose local development (22 per cent) Building social or affordable housing is the…
Read More →
Breaking News

Homebuyers are Prioritising Wi-Fi Over Good Schools

One in four Brits would reject a home over potential slow broadband Almost half (45%) of recent and prospective home movers rank broadband among their considerations when choosing a home, much more so than local schools (26%) Over 1 in 3 (37%) don’t feel settled into a new home until their Wi-Fi is working. Of…
Read More →
Letting Agent Talk

Landlord returns reach almost 7% in some areas

Landlord returns reach almost 7% in strongest rental markets, but protecting those returns is just as important as generating them   The latest analysis by The Letting Partnership has revealed that rental yields are reaching almost 7% in England’s strongest-performing markets, but the firm has warned landlords that generating a healthy return is only half the equation,…
Read More →
Letting Agent Talk

Portfolio landlords now control almost half of England’s private rentals

A changing landlord landscape is being shaped by wealth creation, lifestyle flexibility and a more professional approach to property investment. A new generation of investors are entering the market driven by long-term wealth creation, lifestyle flexibility and a more business-minded approach to property ownership, according to John Minnis estate agents. While the latest English Private…
Read More →
Rightmove logo
Breaking News

Commuter growth peaks in the north as Manchester and Glasgow lead the way

New analysis from the UK’s largest property platform Rightmove, reveals the commuter hotspots around six major cities where average asking prices are rising the fastest Affordable commuter locations around Glasgow and Manchester lead house price growth Falkirk, Stirlingshire, has the highest price growth at +13.5%, with an average asking price of £183,596 While asking prices…
Read More →
Estate Agent Talk

Castles, cottages, vineyards and barn conversions

The latest data from LandSale has revealed what buyers can expect to pay, and how much they can get for their money if they want to escape to the country, with castles, vineyards, barn conversions, and cottages currently offering very different routes to rural living. The analysis draws on LandSale’s internal listing data and examines…
Read More →