Building on Shaky Foundations – CPA cautionary report
In July growth in British construction fell to an 11-month low, according to the Markit/CIPS UK construction purchasing managers’ index. Noble Francis, CPA Economics Director, says activity remains high. “Major contractors work primarily off their order book. If the order book is full, which it currently is, they will be quite happy.” A slowing economy, the squeeze on wages and rising input costs mean output is expected to slow again, and the CPA forecasts for output growth next year have been cut from 1.2% to 0.7%, with sectors such as commercial offices likely to be worst hit. Against this, two huge infrastructure projects — the HS2 rail line and the Thames Tideway tunnel — will provide plenty of work. Outside infrastructure though, next year could be hard for the industry, comments Noble Francis. (SPRA reminder that CPA Weekly News can be found in the members area of the SPRA website)
Source: CPA
Our website uses cookies for user experience improvement and analyzing purposes. By clicking 'OK' or by continuing to use our website you agree with this. Read More.OK
Privacy & Cookie Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.