All construction output articles – Page 4
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Joy deferred as CIPS shows construction activity grows for first time in two years
So the construction activity indicator produced by the buyers’ body CIPS finally points to growth after two years of measuring falling workloads. But this seemingly uplifting moment appears to have brought little joy.The March figure popped its head above the 50 no-change mark on the back of rising activity in ...
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Budget figures confirm the urgent need for new sources of investment in construction
As if in compensation for all the anticipation before and excitement during the Budget announcement, we are left with the dull thud back to reality afterwards.Certainly, for construction the Budget itself changed little of substance.Alright the first-time buyer stamp duty holiday was an eye-catching cheeky move. But we all know ...
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Half a million construction jobs to go – it looks like a dead cert
Construction has now lost 213,000 jobs since the recession started to kick in the autumn of 2008, according to the latest figures. That is about 10% of the workforce.That sounds like a lot and it is. But given the severity of the fall in construction workload to date it is ...
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Official figures show construction output falling again, but devils lurk in the detail
Construction output slumped back into decline in the final quarter of 2009, after a supposed rise out of recession in summer.That is the headline story from today’s release of the construction output figures.But dig a bit deeper and we see some unsettling implications in the numbers.Firstly the statisticians now believe ...
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Growth eludes construction as economy grows –that’s how CIPS sees it
The latest set of figures from the buyers’ body CIPS shows that construction remains mired in recession and the general pattern painted by the numbers provides little scope for optimism.The level of incoming orders fell for the third month in a row, says the report. And this will be from ...
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Prepare for a double dip in construction growth – the implication of today’s GDP figures
The UK is coming out faster from recession than we thought. But the hole was deeper.That seems to be the message from the statisticians’ latest stab at the nation’s output.The increase in fourth quarter GPD was revised upward from 0.1% to 0.3%, which will cheer many not least the Chancellor.But ...
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Government burglars
As Brian Green points out in his column on drumming up work, the government has pretty much kept the industry in business during the recession. About 40% of construction work undertaken in Britain is bought by the taxpayer, compared with 31% in the days when Northern Rock was just a ...
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We’re still in recession says CIPS, despite official figures showing construction output growth
Here’s a question I ponder quite a bit. Why do the official figures show that construction grew in the second and third quarters of last year when to everyone else construction has remained mired in the slough of a nasty recession?Puzzling isn’t it. Even more puzzling that the estimates for ...
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Brighter outlook from forecasters, but severe risks remain
The forecasts from Hewes & Associates and Leading Edge sit interestingly against the other winter forecasts for construction output released over the past couple of weeks.They seem to back up the mood among other forecasters that construction workload might not fall as much was feared in the middle of last ...
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We’ll be getting off relatively lightly if the construction workforce drops by 400,000
The latest forecast from the Construction Skills Network (CSN) suggests that the current recession in construction will have led to a drop of about 400,000 in the number employed by the industry once job shedding ends in early 2011.This would mean a drop of about 15% in the workforce. That ...
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Mum: Are we out of recession yet?
You could feel the uneasiness among economists yesterday when the release of official statistics showed that the UK had just scraped enough oomph together in the final quarter of last year to stage a lacklustre return to growth.Most economists had expected the no-growth bar to be cleared by some margin. ...
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It's a long wait yet for commercial construction upswing
Each time a commercial property developer hints at making a move in the market I am confronted with the same question by those with an interest in construction work: Is this the start of the upswing?This question is usually followed by the suggestion that developers must be keen to build ...
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Forecasts point to a tough and risky road ahead for construction
The latest Experian forecast is out today and it paints a broadly similar, albeit slightly more optimistic, picture to that of the recently released forecast from the Construction Products Association.The main point of departure is on the views towards housing. Here the Experian forecasters are more bullish, if you can ...
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Why the forecast of a shallower recession is bad news for contractors
The latest forecast from the Construction Products Association suggests that the drop in future workload will not be as large as the forecasters had previously thought.The graph opposite compares the past three Construction Products Association forecasts.It clearly shows that with each progressive quarterly forecast the expected hole in construction workload ...
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Workload drops as the snow falls
When we suffered a cold snap back in February last year I looked at the impact of the great freeze of 1962/63 on construction output. In a word it was huge.So, as I walked into work this morning chipper as a child as I trudge though inches of snow and ...
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Are we witnessing an upswing in construction output? In a word: No
So its official – the construction recession isn’t as bad as we thought. And the even better news is that the sharp fall in output at the start of this year wasn’t anywhere near as sharp as last quarter’s figures had suggested.That at least is how the national statisticians might ...
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Falling construction helps hold UK in recession
An estimated fall of 1.1% in construction output in the third quarter of this year has helped to hold the UK economic growth in recessionary territory.Much to the surprise of many analysts the UK economy appears to have remained in recession, with GDP output falling 0.4% in the three months ...
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111,000 jobs lost to construction... and that is just the start
The latest employment figures make grim reading for the construction industry with the number of workforce jobs plunging by 61,000 in the second quarter of this year.This means that 111,000 jobs have been lost to the industry since they peaked in the autumn last year.In fairness the drop in workforce ...
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An uphill road to recovery
Despite welcome news that the UK construction sector is contracting at a slower pace, the industry is still struggling. August saw a reduction in the pace of deterioration. While reduced activity was again largely attributed to dampened demand for new orders, there are a number of issues challenging the sector. ...
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And the slump goes on …
The UK economy shrank by another 0.8% in the second quarter, according to preliminary figures. While the drop was markedly slower than the 2.4% decline in the first quarter of this year, it was still a much sharper contraction than many analysts had hoped for. It also marked the fifth ...