The UK’s construction PMI jumped up from 51.0 to 57.0 last month, its highest level in over 3 years.
Driven primarily by a surge in residential activity, the figure was far exceeded economists’ forecasts, with sudden shift leaving suppliers struggling to keep up with the demand. To give and indication of this, Construct Recruitment saw the demand for temporary carpenters more than double from the first week of June until the last week of July.
The commercial and civil sectors both grew in July but the residential sector, helped by recent government incentives, led the way. In line with this, new orders rose at their quickest pace since last April, suggesting further growth should be expected.
It’s not all plain sailing though. Economists have warned that if the residential demand is not met, the stimulus measures for housing will result in a rise property prices - The average UK home is now £232,969, up more than £500 a month in the past year.
Needless to say, the market for experienced tradesmen and construction managers is extremely hot at the moment so if you’re looking for a new role, you can view and apply to our live jobs here.