British construction growth sags to six-month low October 2, 2018 Output growth from the British construction sector sagged to its lowest level in six months in September as civil engineering projects stalled, according to a closely followed indicator. The construction purchasing managers' index (PMI) fell to 52.1 points in September, down from 52.9 in August, according to data firm IHS Markit. Civil engineering output, such [...]
Kier defies expectations with strong profits as order book swells September 20, 2018 Construction and services company Kier Group posted a better-than-expected nine per cent rise in profit this morning, fighting off investor fears following the collapse of competitor Carillion earlier in the year. Bolstered by a growing order book, the FTSE 250 firm’s underlying pre-tax profit jumped to £137m in the year to June, compared with £126m [...]
US construction growth sparks Ashtead profits September 3, 2015 Equipment hire group Ashtead topped the FTSE 100 leaderboard yesterday, bucking the woes of the wider sector to unveil encouraging first-quarter results. The company, which derives 85 per cent of its revenues from its North American business Sunbelt, reaped the rewards of the continued US construction recovery as it posted a 20 per cent rise [...]
PMI: UK construction growth accelerates again in August thanks to cheaper energy September 2, 2015 The UK’s construction sector expanded at a faster pace in August, according to survey data released today. Markit’s construction purchasing managers’ index ticked up to a score of 57.3 from July’s 57.1, moving further above 50 “no change” mark. Higher levels of business activity have now been recorded in every month since May 2013 – although [...]
Construction drop casts more doubt on Eurozone growth August 19, 2015 The Eurozone's construction sector stumbled in June, with output down 1.9 per cent compared with May. On the year, construction was down 2.4 per cent, according to the figures released this morning by Eurostat. The sharpest monthly fall in the 19-member currency-bloc was in Germany at 4.5 per cent, which was followed by France. Greece [...]
UK housing: Skills shortages forcing construction firms to turn down building work August 19, 2015 Is a skills shortage fuelling the UK housing market's supply issues? Research published today suggests that two-thirds (66 per cent) of small and medium construction firms have had to turn down work because they don't have the staff to carry it out, according to the Federation of Master Buildings. London has the biggest [...]
Markit UK construction PMI: Growth loses momentum in July August 4, 2015 The UK's construction sector unexpectedly lost momentum in July as growth in housebuilding and civil engineering slowed. The widely watched Markit/CIPS UK construction purchasing managers’ index (PMI) slowed to 57.1 in July, from 58.1 a month earlier, also missing economists' expectations for a reading of 58.4. Any number above the crucial 50 mark implies expansion. Growth [...]
More delays? Network Rail submits planning application for a year of construction works at Waterloo Station July 27, 2015 Regular travelers to Waterloo Station should brace themselves: Network Rail has just submitted its first planning application for upgrade works. If it's approved, the works will go on for a year from November. Read more: How new train delay compensation rules will confuse commuters even more The works will include upgrades to the area around the [...]
David Cameron’s housing construction shake-up fails to build market confidence: Experts disagree residential planning overhaul is game changer July 12, 2015 Housing developers had a bit of a rollercoaster ride last week. First the Budget rocked shares, with changes to tax relief on buy-to-let mortgages – and then, on Friday, the government unexpectedly put house building at the centre of its plan to boost the UK’s productivity. With the cost of a home jumping by 45 [...]
UK construction sector confidence hits an 11-year high July 2, 2015 Confidence across the UK construction sector hit an 11-year high in June, while growth continued to rebound, according a widely-watched industry survey released today. The Markit/CIPS UK Construction Purchasing Managers’ index smashed economists' expectations rising to 58.1 in June, up from 55.9 a month earlier, the fastest increase in four months. "The extent of the recent rise [...]