Thursday, 6 June 2013

UK Construction PMI - May 2013

Britain's construction sector returned to growth in May for the first time in 7 months, the latest sign of a tentative recovery in the UK’s economic outlook.

For the first time since October 2012, the construction PMI rose above the 50-level that divides contraction and growth, rising to 50.8 from 49.4 in April.

Residential construction has been the driving force in this upturn in output, with house-building work increasing at fastest pace in 26 months – largely attributed to the government’s initiatives to boost housing activity with schemes such as “Help to Buy”.

Commenting on the report, senior economist at Markit, Tim Moore, said that although construction is likely to add to overall British economic growth in the second quarter, there were no signs of a rise in employment in the sector. However, here at Construct Recruitment, we've seen a sudden surge in demand for tradesmen and labourers to work on our clients’ residential projects across London.

Time for the commercial and civil sub-sectors to catch up!