September 06 2017 CPA News
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Building on Shaky Foundations – CPA cautionary report
06/09/2017
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