UK trade deficit widens but construction is up August 8, 2014 The UK's trade deficit widened in June for the third consecutive month, going up to £2.5bn from May's figure of £2.4bn. Trade deficit is a measure of the difference between a country's imports and exports – and is a contributing factor to overall economic growth. Goods trade deficit In June, exports of [...]
UK construction sector beats expectations as activity in the housing sector is at its highest since 2003 August 4, 2014 The UK construction sector is continuing to grow strongly, albeit at a slightly lower pace than in June. According to purchasing managers' index (PMI) data from Markit, the sector recorded a reading of 62.4, just above the consensus expectation of 62 and only slightly behind June's growth of 62.6. Any score above 50 indicates growth. [...]
Construction body sees industry adding about £11bn to UK economy August 3, 2014 The Construction Products Association will today forecast that the industry will grow about 10 per cent and add about £11bn to the economy over the next two years. Among its other forecasts, the association expects construction output to grow 4.7 per cent in 2014 and 4.8 per cent in 2015, and total output to rise [...]
HS2 to base construction HQ in Birmingham July 21, 2014 The construction headquarters of the High Speed 2 (HS2) railway line will be based in Birmingham it was announced yesterday, with a number of jobs to be moved from London. The new HQ is due to open in phases starting from 2015 and will employ around 1,500 staff. Ben Ruse, lead spokesman at [...]
Reed Elsevier sells construction data arm to Warburg Pincus July 21, 2014 BRITAIN’S biggest media group Reed Elsevier will today announce the sale of a 51 per cent stake in Reed Construction Data, its North American construction information business, to US private equity fund Warburg Pincus. The disposal comes as part of the restructuring of the FTSE 100-listed firm’s Business Information division which has seen it sell [...]
UK construction sector dip compounds week of disappointing economic data July 11, 2014 The British construction sector seems to have lost its momentum. In another tentative sign that the swift economic recovery construction has been enjoying of late could now be slowing, construction in the UK retreated by 1.1 per cent in May according to the Office of National Statistics, a stark drop in light of economists predicting a [...]
Galliford Try acquires Miller Construction for £16.6m July 10, 2014 After posting record group profits yesterday, housebuilder Galliford Try today announced the acquisition of Miller Construction for £16.6m. Miller, which operates only in the UK, made a £4m loss last year but has exited several loss-making contracts and hopes to return to profit this year. Galliford and Miller Group have agreed the transfer of Miller Construction [...]
David Cameron’s £6bn growth gamble on jobs, transport and construction July 7, 2014 David Cameron is today pledging £6bn to boost regional jobs, transport and construction in a bid to boost growth across the country in the run up to next year’s election. The biggest chunk of spending nationally under the three-year scheme will be £3bn on transport, with major links being built between northern cities. The capital [...]
Employment growth in UK’s construction sector hits all-time high July 2, 2014 The UK's construction sector is speeding up again this June, with activity growing at its fastest pace in four months. According to purchasing managers' index (PMI) data from Markit, the sector is expanding more ferociously than first estimated, with a headline reading of 62.6. Any number above 50 implies that activity in the sector is [...]
Dubai shares plunge as construction giant Arabtec hit June 24, 2014 Dubai shares have taken a dive as concerns over major construction firm Arabtec intensify, with the benchmark index heading potentially towards its biggest fall since 2008 after an intraday low of more than eight per cent. The DFM General Index was down more than eight per cent at pixel time, 1.35pm local time, with stocks [...]