UK GDP to be revised up after construction falls less than thought June 12, 2015 Britain's economy is expected to have grown much faster than previously thought last year, according to the Office for National Statistics (ONS). Britain's gross domestic product grew 3.1 per cent in 2014, up from a previous estimate of 1.4 per cent, all other things being equal. Additionally this year's first quarter economic product growth would [...]
Construction firm Kier digging towards deal for Mouchel takeover June 3, 2015 CONSTRUCTION firm Kier Group has moved one step closer to purchasing infrastructure company Mouchel. Kier announced yesterday that it had raised around £312m in a rights issue, selling over 39.6m new shares at 858p each, representing approximately 91.65 per cent of the shares issued during the process. It also said that the Mouchel acquisition is [...]
UK construction industry shows signs of revival June 2, 2015 Construction bounced back in last month, new data has shown, with the Markit/CIPS UK Construction Purchasing Managers’ Index registering 55.9 in May. The figure beat forecasts and remained way above the 50 threshold which indicates growth. However, the sector still has a long way to go after April's dismal reading of 54.2 – although optimism is [...]
Analysts predict a construction bounce back after election dip May 31, 2015 THE CONSTRUCTION sector declined sharply in the run up to the General Election, according to figures published today by industry analysts Glenigan, but a quick rebound is expected. The Glenigan index for June, which covers the value of projects starting on site during the previous three months, has fallen 10 per cent compared with the same time [...]
Invoice delays top 107 days with construction firms taking the hit May 25, 2015 Businesses in construction and real estate were forced to wait over 15 weeks for invoice payments last year, despite the ongoing economic recovery. The new report, published today by the Asset Based Finance Association (ABFA), comes after recent research by insolvency trade body R3 revealed £41.5bn in late payments was owed to UK businesses [...]
Lack of London office space drives a 24 per cent increase in office construction May 19, 2015 The amount of office space under construction in London rose by 24 per cent in the six months to the end of March, rising to 9.5m square feet. A report by Deloitte shows the improving economy is driving a rise in speculative building, with more and more office space available to let. A dearth of [...]
Construction booming in the City as companies vie for office space May 18, 2015 Building activity in central London has soared by 24 per cent over the last six months, as developers scramble to meet demand for space, which remains in short supply, according data released today. Deloitte Real Estate’s latest London Office Crane Survey said there were 31 new starts in the period contributing 4.4m square feet (sq [...]
UK construction sector boosts GDP hopes as output bounces back – although it misses expectations May 15, 2015 Britain's construction industry rebounded in March bringing an end to four months of decline, boosting hopes that the disappointing first quarter gross domestic product figure will be revised upwards. Total construction output rose 3.9 per cent month-on-month, following a 0.3 per cent fall in February. However, this was slightly below analyst estimates for an increase [...]
Construction growth drops on General Election uncertainty May 5, 2015 Growth in the building sector fell to its slowest pace in almost two years in April, according to an influential study from Markit yesterday. The purchasing managers’ index fell to 54.2 from 57.8 in March – still firmly above the 50-mark that indicates growth, but a sharp slowdown in the pace of rising output. The [...]
Rising demand drives up total construction sector turnover May 4, 2015 UK construction firms saw a sharp rise in turnover last year, according to figures released today by BNP Paribas Leasing Solutions. Total turnover of the construction sector jumped six per cent year-on-year to £218bn in 2014. It is now 20.7 per cent above the low reached in the 2009-10 recession of £180bn. The surge in [...]