UK Construction Industry Enjoys Biggest Spike in Orders Since 2014

The UK construction industry has reported the biggest rise in orders since 2014, appearing to combat the challenges that the Coronavirus pandemic has brought with it.   

The IHS Markit/CIPS construction Purchasing Managers’ Index (PMI) rose to 54.7 in November from 53.1 in October. These are the strongest figures since July and surpass all forecasts in a recent Reuters poll. 

“UK construction output stayed on a recovery path in November and there were signs that the main growth driver has transitioned from catch-up work to new projects,” IHS Markit’s economics director, Tim Moore, said.  

Data revealed after the first lockdown showed that monthly construction output decreased by 50%. By September, it was still 10% below its level a year earlier. 

But since the end of the first lockdown in June, house prices have risen sharply and lenders have approved the most mortgages since 2007, as buyers seek bigger homes in case of future lockdowns, and to make use of a temporary tax break. This has in turn seen more commitment to construction projects and in November, we saw our first growth figures in civil engineering activity since July. 

This is why companies such as Persimmon, Taylor Wimpey and many other housebuilders are all predicting an incredibly busy and profitable 2021. 

Construction jobs in 2021  

If you are looking to make the most of the boom in housebuilding and are seeking a job in the trade in 2021, please get in touch with the rhinorecruitment.com team today. With more than a decade of experience supporting construction candidates and employers alike, we will be sure to find you suitable employment.