SJD Accountancy

UK Contractors: Construction sector continues to prosper

Request Callback

Construction contractors will be pleased to hear that the industry is experiencing the sharpest rise in output for nearly seven years.

The Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) revealed that during January, UK construction companies started the year with an acceleration of output growth at their units, boosted by sharp rises in incoming new work.

Stronger demand resulted in a marked increase in employment numbers across the construction sector, as well as improved confidence about business outlook for the next 12 months.

Confidence about the year-ahead was the most positive since September 2009, which in turn supported job hiring in January.  Higher levels of employment have now been recorded in the construction sector for eight consecutive months, which is the longest continuous period of job creation since early 2008.

David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply, commented, “The construction industry has started 2014 in formidable fashion, enjoying its strongest growth in six-and-a-half years reinforced by a sharp rise in new business orders. Housing activity growth was the highest in a decade and remains the fastest improving area of construction. This was supported by a solid expansion in civil engineering and commercial activity, confirming a distinctly positive picture across the board.

“Backed by positive domestic market conditions, the growth in new work is continuing to drive employment upwards, and has now been increasing for eight consecutive months. It is also pleasing to see that this is resulting in growing business confidence, with firms expecting to see more activity in the next few months.” 

If you’re interested in making the move from permanent to contracting, why not download our FREE 60 page guide to Contracting through your own Limited company.

For further advice our New business team on 01442 275789, book a one to one meeting or email your enquiry to 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.