Last Thursday, you may recall that we wrote a blog noting that the construction industry is in rather better health than some might have us believe. It was therefore gratifying to see this Thursday that the IHS Markit report has, for July at least, confirmed this, with its headline unequivocally stating “Fastest Rise in Construction Output since May 2017.”
This report has, naturally, fed through to the trade press and the mainstream dailies, with, for example, the Construction Index reporting “Construction PMI rebounds to seven-month high,” Scottish Construction Now telling us much the same thing, viz, “Construction Output reaches seven month high in June," while the The Daily Telegraph’s headline is “House building drives fastest construction growth in a year.”
These headlines and the Markit report that underpins them reflect what we’re seeing on the ground: house-building clients are, in general, doing very nicely thank you and with the increasing pressure on the government to build more houses that is likely to continue into the future. Let’s not be foolhardy: there are a lot of potential problems lurking (who knows what will happen with Brexit?), but at present the omens are favourable.
Chris Peace, MD, Peace Recruitment