Print
  Construction hits confidence high
 

Confidence regarding future business activity hit an eight-month high in January, according to the latest industry figures.

The Markit/CIPS 'Construction Purchasing Managers' Index' (PMI) also posted a thirteenth successive monthly rise in UK construction sector output - although it did dip slightly to 51.4, down from 53.2 in December. Any figure above 50 represents growth.

This slower rise in new business is being attributed to reductions in clients' budgets.

However, confidence is being buoyed by improving economic conditions and new marketing initiatives and the future is looking brighter, according to Markit/CIPS.

Sarah Bingham, economist at Markit and author of the UK Construction PMI, said: "On top of the surprisingly strong start to 2012 reported by the sister survey of manufacturing, [these figures] will raise hopes that a slide back into recession may yet be avoided."

The PMI is based on monthly replies to questionnaires given by purchasing executives in over 170 construction companies. 


Email address or create your ACENET account
Password
You have 5000 characters left Please read our community standards
All comments Be the first one to post a comment.
Your Shopping Basket
Subtotal: £0