Despite a decline in house building projects, the construction sector recorded growth for August which was mostly due to a rise in commercial and civil engineering activity.
UK Construction Output
Despite a decline in house building projects, the construction sector recorded growth for August which was mostly due to a rise in commercial and civil engineering activity.
Forecasts predict a fall in construction sales volume for the remainder of the year however, the upturn in construction output for the previous month offers a more promising outlook for the coming months ahead.
Construction Purchasing Managers’ Index
At an index score of 50.8 for August, down from 51.7 in July the overall construction output has only declined very slightly which given the lack of house building currently affecting the industry, suggests that the sector as a whole is progressing well in uncertain times.
Areas that saw the biggest increases were commercial building and civil engineering, remaining at the same index score of 52.4 recorded in July, the highest it had been for five months prior.
Construction Industry Outlook
Although there are concerns throughout the construction industry that house building could continue to fall due to a number of factors including increasing interest rates and cutbacks, the resilient demand for commercial work and infrastructure projects is allowing the sector to remain in a period of growth, albeit slower than in previous months.
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