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Posted: 30.04.15

March slowdown doesnt stop business confidence growth

March slowdown doesnt stop business confidence growth

Data from March released by Markit/CIPS UK Construction PMI has indicated another strong month overall for the UK construction sector, with business activity and incoming new work continuing to rise at robust rates.

In good news for builders and building products manufacturers, business confidence is reported to be at its highest level for just over nine years - this is despite the latest upturn in overall output volumes, which has been the least marked for three months, in part reflecting slower civil engineering activity growth. Job creation has also remained below the peaks seen in 2014.

The source has also stated that construction firms report a strong degree of positive sentiment towards the outlook for business activity over the next 12 months, with the latest reading the highest since February 2006.

The Index posted 57.8 in March, down from 60.1 in February and the lowest for three months, but still well above the 50.0 no-change value. As a result, the latest reading pointed to a strong rate of overall construction output growth, albeit one that was below the average for 2014 as a whole (61.8).