Wednesday, 9 July 2014

Housebuilding helps construction industry grow at fastest pace for four months

Housebuilding helped the UK construction industry to grow at its fastest pace for four months in June according to the latest Markit/CIPS purchasing managers' index (PMI) survey.

The construction sector rose in June to 62.6 in June from 60.0 in May (a score above 50 indicates growth).

The survey also showed that construction firms have been hiring new staff at the fastest rate since the survey began in 1997. 

Likewise, we have noticed that manufacturers of construction products are also recruiting at a greater rate for construction sales and marketing professionals, which has been proven by a large increase in sales jobs vacancies advertised by ourselves at Pinnacle Consulting.

Housebuilding was the fastest-growing sector in the construction industry as it produced the largest expansion in activity and the fastest growth in new orders since January, which is great news for manufacturers and distributors of building products for residential housing.

Markit said accelerating house prices, low interest rates and strong demand continue to encourage housebuilders to launch new housing developments.

The Markit/CIPS survey found the commercial property sector, which faced near collapse following the 2008 financial crisis, also saw an increase in activity last month.

We need the commercial and housebuilding sectors to be healthy in order to sustain the fantastic progress the construction industry has seen during 2014.

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