Reaction to Markit/CIPS UK Construction PMI for November

The Vinden Partnership is optimistic over growth expectations for 2016.

The Markit/CIPS UK Construction Purchasing Manager’s Index for November have been released and reveal that housebuilding grew at its slowest rate for over two years.

The UK construction PMI fell to 55.3 from October’s 58.8, the slowest period of expansion for seven months but still well above the growth threshold figure of 50.0.

The results come after the Chancellor George Osborne’s Autumn Statement last week where he announced Britain’s largest house building programme since the 1970s.

Martin Bennett, Regional Director of The Vinden Partnership said that he feels the overall figures aren’t a cause for concern. He commented: “Given the huge level of investment committed by the government in large infrastructure projects and the level of optimism coming from UK construction companies, I fully expect the industry to experience more sustained growth as we move into 2016.”

In terms of the fall in housebuilding figures, Mr Bennett said: “The figures only serve to underline the need for action from the government and we hope to see the new housing programme bear fruit in the not too distant future.”

The post Reaction to Markit/CIPS UK Construction PMI for November appeared first on UK Construction Online.