Industry & Business

UK construction industry slows down

 Breaking News
  • Largest Ever European Investment Bank Support in Ireland The European Investment Bank is to provide a loan of €490 million to support construction of the new children’s hospital in Dublin. This represents the largest ever financial engagement by the European Union’s long-term lending institution in Ireland and the EIB’s first backing for a hospital in the country. The new children’s hospital project includes two [...]...
  • Strabane Manufacturer to Invest Over £7 Million in Ambitious Expansion Strabane-based Fabplus is planning to more than double its workforce and turnover with support from Invest Northern Ireland. The investment is part of a three year expansion plan to increase its market share in the Republic of Ireland and Great Britain, and gain a foothold in mainland Europe and Scandinavia. Recruitment is underway to employ 83 additional staff at [...]...
  • PM Group Appoints a New Non-Executive Director Michael McNicholas has been appointed as a Non-Executive Director of Project Management Holdings (PM Group), the Irish headquartered international project delivery specialists. Michael McNicholas. Michael has over 35 years’ experience in senior leadership positions in the public and private sectors. He is the former CEO of Ervia, NTR plc and Managing Director of ESB International.  During his [...]...
  • Center Parcs Signs Contract With John Sisk & Son As construction activity on the much anticipated €233 million Center Parcs Longford Forest resort in County Longford ramps up, the company has announced it has formally awarded two major construction contracts to Dublin-based construction firm John Sisk & Son. The contracts for the construction of the 470 lodges and 30 apartments as well as the state-of-the-art centre [...]...
  • Medi-Shower Invests in Innovation to Drive Export Growth Multi-award-winning manufacturer Medi-Shower has created ‘smart showerhead’ technology which can reduce the risk of Legionnaires disease. The cutting edge product, developed with R&D support from Invest Northern Ireland is designed to meet the high requirements for hygiene within the healthcare sector. It reduces the risk of waterborne infection from bacteria that can build up due to poor design [...]...

UK construction industry slows down

UK construction industry slows down
April 06
09:00 2017

A slowdown in the growth of UK construction activity has added to fears that the country’s economy may be starting to cool. March saw only a marginal rise in new work across the British construction sector, with a weak rise in home building in particular. Any fall-off in activity in the sector is bad news for Ireland, where exports of everything, from timber and pre-cast concrete, to architectural and engineering services are heavily reliant on the huge British market.

Enterprise Ireland has indicated that those involved in the supply of construction materials are among the sectors most heavily reliant on UK exports, with as much as 90% of sales in some segments made in Britain.

The news comes just a day after data showed that the manufacturing sector lost some of its momentum last month, as export orders grew more slowly and demand for consumer goods faltered against a backdrop of rising inflation pressures. Sterling’s tumble following June’s vote to leave the European Union helped manufacturers enjoy their fastest annual growth in three years during the final quarter of last year.

The Construction PMI in the UK for last month, produced by financial information firm Markit, fell to 52.2 in February from 52.5 the previous month, the joint-lowest upturn in overall construction output since last September. The PMI survey showed growth in housebuilding slowed to a seven-month low, more than offsetting the best month so far in 2017 for civil engineering firms who were helped by infrastructure spending. Commercial construction also picked up.

The UK economy has so far largely shrugged off any predicted effects of the Brexit vote. It outpaced all G7 countries bar Germany last year, but it is widely expected to slow this year as rising inflation eats into consumer demand and businesses invest less. But the survey also showed that confidence among construction companies remains robust. Respondents noted that reduced Brexit-related anxiety and the resilient economic backdrop had a positive impact on new invitations to tender.

About Author

editor

editor

Related Articles






New Subscriber





Subscribe Here



Advertisements
































National Manufacturing Conference & Exhibition 2016

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4