UK economic growth hit by subdued construction January 27, 2015 THE UK’s economic growth slowed in the final three months of the year, according to official estimates. The economy was 0.5 per cent larger in the final three months of 2014 compared to the previous three months. It compares to 0.8 per cent growth from April to June and 0.7 per cent from July to [...]
Balfour Beatty issues £70m warning on UK construction profits and cancels £200m share buyback January 22, 2015 Balfour Beatty has warned profits at its UK construction arm will take a £70m hit after a review of its business by KPMG found it had made “optimistic assumptions” about the cost and risk of contracts. The widespread review of the construction group’s business was initiated in September after it made its fifth profit warning [...]
Construction output falls 2.2 per cent – but it’s not as disappointing as it looks December 12, 2014 Growth in the UK construction industry rose by a modest 0.7 per cent in October compared with the year before, and contracted 2.2 per cent on the previous month. Does this mean the sector – which has until recently put in a reliable performance – is beginning to suffer? It's worth pointing out that the [...]
UK construction growth slows December 2, 2014 Output in the UK's construction sector grew by a its smallest since October last year last month, figures published today show. The Markit/CIPS Construction Purchasing Managers' Index fell to 59.4, from 61.4 in October – although it still remained way above the 50 mark which denotes contraction. Analysts suggested the contraction was down to weaker [...]
Construction adds to euro woes November 19, 2014 THE EUROZONE’s construction sector suffered a decline in activity in September. Seasonally adjusted output in the construction sector fell by 1.8 per cent month-on-month in September, according to figures released yesterday by Eurostat, the statistical office of the EU. Activity also dipped year-on-year, registering a 1.7 per cent decline. The worst affected nations were Slovenia, Italy, [...]
UK construction activity falls to its lowest in five months November 4, 2014 Activity in the UK's construction industry fell to its lowest level in five months during October, figures out this morning showed. Markit's purchasing managers' index (PMI) for construction, which measures activity in the sector, fell to 61.4 in October, down from 64.2 in September. Any number above 50 denotes growth in activity, so the industry [...]
Construction work coming in at quickest rate seen this century October 22, 2014 THE CONSTRUCTION sector is continuing to pick up momentum, with workloads rising at their quickest rate for 20 years, new survey data shows today. The survey undertaken by the Royal Institution of Chartered Surveyors (Rics) uses net balances – the proportion of people giving a positive response minus the per cent of those giving a negative [...]
Surprise as UK construction falls by 3.9 per cent in August October 10, 2014 UK construction contracted by 3.9 per cent in August – far worse than the 0.5 per cent expansion predicted by economists. Surprisingly almost no one saw this coming: a Bloomberg poll of analysts predicted a 0.5 per cent rise: 4.4 percentage points too optimistic. Every analyst polled by Bloomberg predicted expansion. As the Office of [...]
Skills shortage in construction or property to push up wages by as much as 10pc, says Hays October 9, 2014 Recruitment giant Hays said yesterday that skill shortages were pushing up some white collar salaries as much as 10 per cent, despite sluggish wage growth across the economy as a whole. A booming jobs market has resulted in the firm placing 20 per cent more staff in its latest quarter than in the same period [...]
Construction in London dodged recession’s bite October 8, 2014 CONSTRUCTION in the capital has been invulnerable to the financial crisis and the following recession with growth now predicted to surpass its trend level. The last three months will have seen activity soar above its pre-crisis trend, according to data from Scape, a government owned construction company. The remaining figures are from the Office of [...]