Construction Update
Project starts fall but small spots of hope indicate green shoots of recovery are there
The S&P Global/CIPS UK Construction Purchasing Managers’ Index (PMI) edged higher to 49.2 in August of 2022 from 48.9 in July but marked the second consecutive month of falling activity as high prices continued to weigh on demand.
By Michael Urie
Value of construction starts edges higher in the three months to May 2022
Data shows the value of construction starts edged marginally higher in the three months to May 2022 compared to the previous rolling quarter (to April 2022). The underlying value of project starts rose by 1.2% in May compared to the previous three-month period, from £5.04bn to £5.1bn.
-
Data reveals record high construction output volumes in Q1 2022
Data reveals record high construction output volumes in Q1 2022
New ONS data revealed record-high construction output volumes in Q1 2022, which rose by 3.8% on the previous quarter. Repair & Maintenance work was the key driver of output growth, helped by storms in February and the return of office working which has increased demand for refurbishments.
By Michael Urie
-
UK construction output rises by 1.4% in January in a sign that supply chain difficulties were easing prior to Ukraine crisis
UK construction output rises by 1.4% in January in a sign that supply chain difficulties were easing prior to Ukraine crisis
UK construction output rose by 1.4% in January month-on-month, reaching its highest level since September 2019.
By Michael Urie
-
Infrastructure will be the major driver of growth in 2022
Infrastructure will be the major driver of growth in 2022
Supported by a strong five-year spending plan, infrastructure will be the major drive of growth in 2022.
By Michael Urie
-
Indications of a robust and accelerated expansion of overall construction activity
Indications of a robust and accelerated expansion of overall construction activity
The IHS Markit/CIPS UK Construction PMI rose to 55.5 in November 2021, up from 54.6 in the previous month, indicating a robust and accelerated expansion of overall construction activity as commercial work rose the most since July.
By Michael Urie
-
National Infrastructure Commission has set out nine priority areas most in need of investment
National Infrastructure Commission has set out nine priority areas most in need of investment
The National Infrastructure Commission has set out nine priority areas most in need of investment over the next 10-30 years in order to decarbonise the economy, protect the environment and 'level up' poorer regions.
By Michael Urie
-
Government publishes National Infrastructure and Construction Pipeline 2021 policy paper
Government publishes National Infrastructure and Construction Pipeline 2021 policy paper
The Government has published the National Infrastructure and Construction Pipeline 2021 policy paper – a forward-look at the pipeline of planned projects and programmes.
By Michael Urie
-
Strong pipelines in the month ahead are a cause for optimism
Strong pipelines in the month ahead are a cause for optimism
Strong pipelines in the months ahead are a cause for optimism, which should calm the nerves of firms concerned about a post-COVID slump. Project starts will see a return to pre-COVID levels in 2022, helped by the likelihood of the Government announcing a major retrofitting programme in the coming months.
By Michael Urie
-
Construction activity in June expands at fastest pace since June 1997
Construction activity in June expands at fastest pace since June 1997
Construction activity in June expanded at the fastest pace since June 1997 according to the latest PMI data, largely thanks to a sharp rise in new orders. The index rose to 66.3 with sharp increases in business activity seen across all three main areas of the construction sector.
By Michael Urie
-
Construction work to the end of May 2021 up 5% on previous quarter
Construction work to the end of May 2021 up 5% on previous quarter
Glenigan's latest Construction Review shows that construction work starting in the three months to the end of May 2021 was up 5% on the previous quarter. The average value of jobs starting in the quarter was £5.395m - a 49% increase on the whole of 2020.
By Michael Urie
-
New orders and output rise again in May's construction PMI survey
New orders and output rise again in May's construction PMI survey
New construction orders increased at the fastest rate since the survey began in April 1997 according to May’s IHS Markit/CIPS UK construction PMI. The total activity index rose to 64.2 in May (from 61.6 in April), indicating that the construction sector remains on a strong recovery path.
By Michael Urie
-
Output and new orders edge higher in Q1 but price pressures mount
Output and new orders edge higher in Q1 but price pressures mount
Deloitte’s latest London Office Crane Survey reveals construction starts rose 20% but most starts involve upgrading existing office stock, former NBS boss casts doubt on whether new post-Brexit certification rules will be ready in time, RIBA Future Trends Index show architectural practices remain upbeat on workloads, ISG report finds that UK’s built environment will need to reduce energy consumption by 80% to meet 2050 net-zero carbon targets
By Michael Urie
-
Optimism grows over future workloads: RIBA Future Trends Workload Index highest since May 2016
Optimism grows over future workloads: RIBA Future Trends Workload Index highest since May 2016
UK construction job vacancies are now 7.7% higher than they were one year a go thanks to rise in new project starts, "Evidence-based metrics" needed to measure progress on net zero carbon according to construction minister, NLA Tall Buildings Survey finds that planning applications for tall buildings in London fell by nearly one-third last year, CPA predicting output growth of 12.9% in 2021 but commercial activity is expected to be muted, City of London Corporation plans to convert vacant offices into new residential units under its five-year recovery strategy
By Michael Urie
-
January's resilient output figures indicate the sector's recovery is back on track and investor confidence is returning
January's resilient output figures indicate the sector's recovery is back on track and investor confidence is returning
BEIS launches two new sustainability-focused consultations for non-residential buildings, recovery, transformation and building trust: CLC sets core priorities for 2021 and beyond, MIPIM: speakers suggest overhaul in post-pandemic office requirements could yield opportunities for redeveloping and reimagining workplaces and urban spaces, New Building Safety Regulator begins recruitment drive for 700 staff to help oversee safety of tall residential buildings
By Michael Urie
-
UK construction PMI sees solid return to growth in February after a setback at the start of 2021
UK construction PMI sees solid return to growth in February after a setback at the start of 2021
UK construction PMI sees solid return to growth in February after a setback at the start of 2021, CLC to publish performance data showing net zero carbon progress, G&T market analysis indicates fairly healthy project pipeline among UK’s biggest main contractors, little emphasis on green policies as Chancellor made key announcements in Budget 2021, Timber Trade Federation: timber firms experiencing logistical difficulties and inflated costs amid record demand
By Michael Urie
-
Construction helps UK economy avoid a double-dip recession
Construction helps UK economy avoid a double-dip recession
Government open to possibility of reviewing current immigration policy for construction workers, RIBA Survey: London posts positive workload index for the first time since lockdown 1, construction new order figures in Q4 2020 paint a strong picture of winners and losers on a sector-by-sector basis, contractors cut the time they are prepared to honour fixed-price contracts according to RLB survey, commodities “supercycle” fuelling above-trend price rises as demand for copper streaks ahead of constrained supply and production capacity.
By Michael Urie
-
CPA forecasts a 14% rise in construction output in 2021 on the back of vaccine rollout
CPA forecasts a 14% rise in construction output in 2021 on the back of vaccine rollout
CPA forecasts a 14% rise in construction output in 2021 on the back of vaccine rollout, ONS: 93% of construction firms not experiencing import challenges – a stark contrast to UK manufacturing firms, IHS Markit: construction activity dipped for the first time in seven months in January 2021 as output fell and new order growth subsided, public Accounts Committee highlights risk that tax payers won’t get value for money on £600bn infrastructure pipeline, Sadiq Khan adopts a much-altered London Plan four years after starting work on it, Construction material prices continue to rise due to higher raw material costs and an ongoing supply/ demand imbalance
By Michael Urie
