Train4TradeSkills News: Construction Industry bounces back with strong October

The uncertain state of the construction industry has been helped with a strong performance in October, which has surprised some industry experts.

The construction industry reached a five-month high in October, according to the Markit/CIPS UK Construction PMI, where orders and activity grew significantly compared to the previous months.

The index recorded a figure of 53.9 in October, which is up from 50.1 in September. Any figure over 50 represents a growth in activity.

Despite these figures, the state of the industry is uncertain at the moment, and the outlook remains gloomy for the foreseeable future. But at least these figures are hopefully a step in the right direction.

Sarah Bingham, Economist at Markit and author of the UK Construction PMI said:

“UK construction output improved in October, as new orders recovered from September’s modest decline.

The outlook for the sector remains uncertain, with October seeing a further weakening in sentiment regarding business expectations. The increase in employment recorded was fractional, despite the rise in new business and activity.

This suggests that constructors remain tentative about the longevity of the sector’s growth profile.”

 

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