{"id":2719,"date":"2017-05-04T12:00:33","date_gmt":"2017-05-04T11:00:33","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2719"},"modified":"2023-09-28T16:57:11","modified_gmt":"2023-09-28T15:57:11","slug":"april-saw-strongest-growth-2017-british-construction","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/news\/april-saw-strongest-growth-2017-british-construction\/","title":{"rendered":"April saw strongest growth in 2017 for British construction"},"content":{"rendered":"<p><strong>Last month, the British construction industry experienced its fastest growth rate for this year so far, however doubts remain in the sector regarding the long-term.<\/strong><\/p>\n<p>IHS Markit reported that the purchasing managers\u2019 index (PMI) for <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/10\/small-construction-firms-shake-off-brexit-concerns-confidence\/\" target=\"\" rel=\"noopener\">construction rose significantly<\/a> in April, to a value of 53.2. This is an increase from 52.2 in March.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"UkjOZDEWw1\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/28\/builders-remain-bullish-face-rising-costs\/\">Builders remain bullish in the face of rising costs<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Builders remain bullish in the face of rising costs&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/28\/builders-remain-bullish-face-rising-costs\/embed\/#?secret=BPQPuBwUEH#?secret=UkjOZDEWw1\" data-secret=\"UkjOZDEWw1\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>One of the main drivers was an increase in orders beyond levels original expectations. However, the construction sector was still beaten by manufacturing values, which experienced a three-year high.<\/p>\n<p>Max Jones, global corporates relationship director for construction at Lloyds Bank Commercial Banking, said:<\/p>\n<blockquote><p>\u201cSome of the nervousness is coming from contractors with a focus on infrastructure, where the pipeline remains strong. The success of Crossrail has shown that mega-projects can be delivered on time and on budget but there are concerns about how government decision-making on infrastructure may be affected given the focus on <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/17\/brexit-cost-construction-capacity\/\" target=\"\" rel=\"noopener\">Brexit negotiations<\/a>.\u201d<\/p><\/blockquote>\n<p>Whilst, simply put, any value higher than 50 accounts for an expansion, the long-term average reading of 54.5 has not been hit by the sector since early 2016.<\/p>\n<p>Towards the beginning of 2017, the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/02\/15\/builders-thrive-but-construction-slumps\/\" target=\"\" rel=\"noopener\">construction sector<\/a> struggled, with the ONS reporting a growth of only 0.2% and therefore falling below the economy-wide measure of 0.3%.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"lJwIFix0Ou\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/03\/uk-construction-sector-rosy-picture-2017-rics\/\">UK Construction Sector: Rosy picture for 2017 from RICS<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;UK Construction Sector: Rosy picture for 2017 from RICS&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/03\/uk-construction-sector-rosy-picture-2017-rics\/embed\/#?secret=yLg74XfDea#?secret=lJwIFix0Ou\" data-secret=\"lJwIFix0Ou\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>According to the ONS, the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/02\/brexit-wont-stop-asia-investing-uk\/\" target=\"\" rel=\"noopener\">construction industry<\/a> makes up 5.9% of Britain\u2019s economic output. Growth in the sector is at the same time often seen as an indicator for wider growth across the country.<\/p>\n<p>Paul Trigg, assistant head of risk underwriting at Euler Hermes, said:<\/p>\n<blockquote><p>\u201cDespite recent robust performance across construction, we expect the sector to see anaemic growth in the short to mid-term as concerns about falling inward investment levels, thinning long-term order books and access to skills grow.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Last month, the British construction industry experienced its fastest growth rate for this year so far, however doubts remain in the sector regarding the long-term. IHS Markit reported that the purchasing managers\u2019 index (PMI) for construction rose significantly in April, to a value of 53.2. This is an increase from 52.2 in March. Builders remain<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/news\/april-saw-strongest-growth-2017-british-construction\/\" title=\"ReadApril saw strongest growth in 2017 for British construction\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4368,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[61,6],"tags":[76,20,257],"class_list":["post-2719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-construction","category-uk-housing-market","tag-builders","tag-developer","tag-investors"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=2719"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2719\/revisions"}],"predecessor-version":[{"id":6096682,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2719\/revisions\/6096682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4368"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=2719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=2719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=2719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}