Sterling falls to five-year low after Carney’s comment, disappointing construction data March 13, 2015 The pound slumped to its lowest level in five years against the dollar after poor construction data and Bank of England governor Mark Carney's rate comments. Sterling fell over a percent against the dollar to trade as low as $1.4710, or its weakest since June 2010. Construction suffered its worst fall in more than a [...]
UK construction suffers worst fall in more than a year in January March 13, 2015 UK construction suffered its worst fall in more than a year in January, due to a heavy decline in house-building. Output in the construction industry fell 2.6 per cent from a month earlier, when it had risen 0.6 per cent. The reading came in way below economists' expectations – many had forecast a rise of [...]
Surging construction activity boosts British economic outlook March 3, 2015 CONSTRUCTION firms reported an acceleration in growth, new survey data show. The construction purchasing managers’ index (PMI) released by Markit yesterday jumped to a score of 60.1 in February from January’s 59.1. A score above 50 indicates growth, with higher figures implying faster growth. Construction activity is continuing to rebound from a 17-month low it [...]
Crossrail opens its doors to give young Londoners a glimpse of Europe’s biggest construction project March 3, 2015 Crossrail is opening its doors this weekend, offering young Londoners the chance to see what Europe's largest construction project looks like from the inside. This weekend Crossrail is holding a free ticketed Open Doors event, aimed at 11 to 24-year-olds interested in the construction industry, as well as parents and teachers, to visit sites including [...]
UK construction accelerated further in February March 3, 2015 The UK's construction sector has posted its strongest growth in four months thanks to increases in new orders, signalling a rebound from the 17-month low it hit in December. The Markit/CIPS UK Construction Purchasing Managers' Index was 60.1 in February, up from 59.1 a month ago. This beat economists' expectations of 59, and marked the 22nd [...]
Construction recovery boosts growth outlook February 3, 2015 THE UK’s construction industry rebounded in January following a recent lull in activity, new survey data shows. It may provide a significant boost to GDP in 2015 after a poor construction output reading slowed growth in the final three months of 2014. The purchasing managers’ index (PMI) – a survey of private sector firms compiled [...]
UK construction growth rebounds unexpectedly in January February 3, 2015 The UK's construction sector rebounded in January, pulling away from December's 17-month low. The Markit purchasing managers' index (PMI) rose to 59.1 from December's 17-month low of 57.6, buoyed by residential home-building. Any reading above 50 indicates growth. "UK construction companies have found their feet again after a protracted slowdown in output growth at the [...]
UK economic growth hit by subdued construction January 27, 2015 THE UK’s economic growth slowed in the final three months of the year, according to official estimates. The economy was 0.5 per cent larger in the final three months of 2014 compared to the previous three months. It compares to 0.8 per cent growth from April to June and 0.7 per cent from July to [...]
Balfour Beatty issues £70m warning on UK construction profits and cancels £200m share buyback January 22, 2015 Balfour Beatty has warned profits at its UK construction arm will take a £70m hit after a review of its business by KPMG found it had made “optimistic assumptions” about the cost and risk of contracts. The widespread review of the construction group’s business was initiated in September after it made its fifth profit warning [...]
Construction output falls 2.2 per cent – but it’s not as disappointing as it looks December 12, 2014 Growth in the UK construction industry rose by a modest 0.7 per cent in October compared with the year before, and contracted 2.2 per cent on the previous month. Does this mean the sector – which has until recently put in a reliable performance – is beginning to suffer? It's worth pointing out that the [...]