SJD Accountancy

UK Contractors: Construction industry continues to thrive

Request Callback

Construction contractors and Limited company owners alike will be pleased to learn that the industry is experiencing increased activity levels and employment growth.

Latest research from the Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) has revealed that June data signalled a strong rebound in growth momentum across the UK construction sector, driven by faster expansions of housing and commercial building activity.

According to findings, stronger new order volumes and ongoing efforts to boost operating capacity have been key factors for creating the steepest rise in employment levels since the survey began fourteen years ago.

Volumes of new work received by UK construction companies increased sharply in June and at the fastest pace since January.

Unsurprisingly, because of these recent figures, construction companies remain highly upbeat about the outlook for business activity over the year ahead.

Tim Moore, Senior Economist at Markit and author of the Markit/CIPS Construction PMI®, said, “UK construction companies started the summer with another surge in house building and commercial activity, which helped to offset a slight moderation in civil engineering growth as temporary projects related to flood relief came to completion. 

“The latest survey suggests that the UK construction sector has expanded by more than 1% over the second quarter of 2014, driven by improvements in the underlying health of the UK economy, favourable funding conditions and robust increases in new housing starts.

“A key recent development across the construction sector has been the return to pre-recession rates of job creation, following a prolonged period of falling payroll numbers and cuts to operating capacity.

“Moreover, the latest rise in construction employment was the fastest since the survey began in 1997, which represents a remarkable yardstick of progress as the sector looks to recover the ground lost over the past seven years.”

Considering making the switch from working as a permanent employee to a contractor? Then read our free downloadable guide to moving from permanent to contracting, you may also find our advantages and disadvantages of a Limited company page useful.

For more information on contracting, speak to a member of our new business team on 01442 275789 or email newbusiness@sjdaccountancy.com.

For all other news please visit our Contractor News hub, or why not join us on Facebook and follow us on Google+ for all the latest contractor news, views, debates and competitions.

Request a Call Back

We want you to know exactly how our service works and why we need your details. Please read our Privacy Policy before you continue.