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Employment on the rise in UK construction after recent growth

by | 06 Jun 24 | News | 0 comments

The UK construction workforce is bolstering its number and increasing its purchasing after experiencing its fastest growth in the last two years.

The latest S&P Global construction purchasing managers’ index (PMI) scored 54.7 in May, up from 53.0 in April – analysts originally predicted a reading of 52.5 for the month.

Any score over 50.0 indicates a rise in activity, while a score below this benchmark implies a shrinking, May’s score marks the third consecutive month of growth.

This is the highest recorded rate of growth the UK construction sector has experienced in two years, and has led to a rise in employment opportunities and an increase in material purchasing.

All three categories in the sector – housing, commercial construction and civil engineering – saw a rise in activity, with commercial construction coming out on top.

Andrew Harker, economics director at S&P Global Market Intelligence, says: “Firms are gearing up for further growth in the months ahead, posting renewed expansions in both employment and purchasing activity as workloads increase.”

Barry Goodall , partner and head of construction at Brabners, adds that the “many contractual challenges we saw arise amid the period of rampant inflation have begun to ease and firms are planning ahead with greater certainty around input costs and interest rates.”

He goes on to say if the latter falls as anticipated, the sector should expect to see a “relatively positive second half of the year.”

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