The latest Markit/CIPS data showed that the UK's property market helped end 2014 as the best year for British builders since 1997. An amazing turnaround when you consider the doom and gloom of only 18 months or so ago, and the good news is expected to continue into 2015!Housebuilding was the strongest performing part of the construction industry, in the purchasing managers index from Markit, although the increase slowed for the third month running in December.
The Markit/CIPS construction PMI eased to 57.6 from 59.4 in November, although the festive season is a factor in this, but with any reading above 50 representing growth in the sector, it is still fantastic news for the industry.
Of the three measured sub-categories, civil engineering was the only one to report a contraction with output falling for the first time in 17 months.
Tim Moore, senior economist at Markit, said: "Over the course of 2014, UK construction firms recorded the strongest calendar year of residential building since the survey began in 1997."
The good news is expected to continue into 2015, with industry insiders anticipating that the UK's property market will be a key area of growth over the next 12 months.
Mr Moore said: "Four times as many construction companies anticipate an upturn in output over the year ahead as those that expect a reduction."
Firms did, however, express concern that the upcoming general election could dampen confidence. May could be an interesting time for the industry.
If you are a manufacturer or distributor of building products and are looking to recruit, please contact us on 01480 405225 or visit our website www.pinnacleconsulting.co.uk
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