British Construction Industry Recovers From Coronavirus, UK Housebuilding after COVID-19 Guide
UK Construction Industry recovery from Covid-19
4 Dec 2020
UK Construction Industry Sector Update
New building projects fuel industry optimism
New order volumes in November grew at its fastest rate in six years with housebuilding a star performer, according to the UK purchasing managers’ index.
The survey pointed to the strongest degree of business optimism across construction since January.
Chartered Institute of Procurement and Supply group director Duncan Brock, said: “The sector is moving back to strength with another solid rise in output and gaining more momentum as new orders rose last month at the highest rate since October 2014.
“The energy behind this success was primarily the housing sector as sales remained buoyed by consumers rushing to meet the stamp duty relief deadline less than four months away and a rise in home improvement projects for locked down citizens.”
House building at 59 was the strongest out of an overall activity rate of 55 for November – above the 50 no-change value for the sixth consecutive month.
The EY ITEM Club chief economic advisor Howard Archer said: “Positively, the index observed there were signs the main growth driver has transitioned from catch-up work to new projects.”
More than half of the index’s panel forecast a rise in business activity during the year ahead, while only 16 per cent predic...