The Markit/CIPS Construction Purchasing Managers' Index (PMI), a survey of 170 construction companies, although edging very marginally down to 62.5 in March from 62.6 in February, it is still way above the 50 figure that denotes growth and has been for some time now.
The survey showed Britain's builders in an exuberant mood with optimism rising to its highest level since January 2007 and firms hiring staff at the fastest pace in four months. This is fantastic news for manufacturers and merchants of construction products.
Britain's construction industry has been on the road to recovery since last year thanks to a combination of record low interest rates, government programmes to encourage people to buy new homes and falling unemployment. In the budget, last month, the government announced that it would extend until the end of the decade the Help to Buy programme designed to encourage the purchase of new homes.
Housebuilders saw reported a fast of expansion after bad weather of January and February, although this had boosted the civil engineering sector with flood relief projects.
"The rise in residential construction was one of the sharpest experienced over the past 10 years, helped by resurgent demand of development programmes and supportive funding conditions," said Tim Moore, senior economist at survey compiler Markit.
However, supplies such as bricks and staff as still hard to find and are in short supply as the industry enters the busy Spring and early Summer period.
If you are a manufacturer or supplier of building products and need more sales or marketing staff to meet the increasing demand the building industry is showing, contact us on 01480 405225 or view our website at www.pinnacleconsulting.co.uk
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