At the half-way point of 2011, how is the construction industry faring?

The construction industry has grown for the sixth month in a row, but despite the growth, experts are remaining gloomy surrounding the future of the industry.

The Markit/CIPS UK Construction PMI Index showed figures of 53.6 for June, the sixth month in a row that the industry has grown. Any figure above 50 constitutes a growth.

While the fact that the construction industry is in growth is a plus, the figure was down from May, dropping from 54 to 53.6.

Despite the continued growth this year, many experts have painted a depressing picture for the construction industry, saying it will be another two years before the industry really turns the corner.

A new report from the Construction Products Association found that construction output will fall by 3.2% in the next two years, before a flurry of activity and a 3.4 rise in 2014.

Public sector housing orders are expected to decrease dramatically in the next three years, falling by 39%. The private housing centre is forecast to have the opposite effect, rising by 62% in the next three years.

What the report is saying that the public sector is going to suffer, mainly due to the spending cuts, while private housing and office building, particularly in London, is expected to see a three-fold increase.

What do you think – how do you think the construction industry is faring in 2011? Will it be 2014 before we see a big growth? Let us know by commenting on here or on the Train4TradeSkills Facebook and Twitter pages

 

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Posted on July 4, 2011, in construction jobs, construction news, Electrical News, electrician jobs, plumbing jobs, Plumbing News, t4ts, train4tradeskills and tagged , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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