Construction output growth remains steady

The rate of construction output growth remained steady in March, according to the latest Purchasing Managers Index (PMI) survey by Markit and the Chartered Institute of Procurement and Supply.

April 5, 2016
Published

March's reading of 54.2 was unchanged from February, the 35th successive month in which the reading has been above the 50 mark, indicating sector growth.

However, the figure meant last month and February saw the slowest growth since June 2013, with the February figures hit by the weakest growth in residential construction output since January 2013, with only a slight rise in activity recorded.

Correspondingly, employment in the sector continued to increase, but at the slowest rate since the middle of 2013.

Discussing the figures, senior economist at Markit Tim Moore noted the subdued mood, but also pointed to significant growth in civil engineering, which has enjoyed a strong start to the year.

"Civil engineering delivered its strongest performance for just over a year, suggesting that a healthy pipeline of infrastructure projects continues to boost construction output," he remarked.

The construction PMI reading was higher than that for both manufacturing - which was also unchanged at 51 - and services, which was up from 52.7 to 53.7.

Book a Demo
Learn how you can gain financial and commercial control of your construction business.
Book a Demo

Related Articles

See the right Eque2 product

Book a demo and we will show you the software on your kind of projects, with the commercial and financial reporting your teams need.