blog header image

Posted : 06 Nov 2019 at 11:20:01
Category: News

Share this article

UK house building is among the construction segments to have fallen into a “ditch” in October, the Chartered Institute of Procurement and Supply (CIPS) has said.

The body’s monthly market index highlighted house building as among the worst-performing segments, alongside civil engineering and commercial construction.

House building contracted to a three-year low and commercial construction fell for the tenth month in a row, while civil engineering performed worst of all, it said.

The overall index hit 44.2 in October, up from 43.3 in September but still below the neutral 50 reading. Readings below 50 signal negative growth.

Companies had noted “subdued client demand due to political uncertainty”, CIPS said.

“To say these figures are disappointing is a big understatement. Given that the next political hurdle is December’s general election, all eyes will be on the new administration and clear direction, because at the moment there is little insight into what could possibly pull the sector out of its ditch,” said CIPS group director Duncan Brock.

Across the construction industry, new orders dropped for the seventh month in a row and staffing levels have declined every month since April. 

Last week, Barratt Developments began redundancy consultation with staff at one of its London divisions, according to a Bloomberg report.

The UK’s second-largest house builder by market value is reportedly considering up to 20 job losses in the capital.

The monthly construction industry snapshot was supplied by IHS Markit/CIPS UK Construction Purchasing Managers’ Index.

SIMILAR NEWS

blog header image
NEWS
LANDLORDS NEED TO BE PREPARED FOR EVERY POSSIBILITY WITH CGT CHANGES – YOUNG

The age-old question posed by all private sector landlords at any one time is often, ‘what do I do next?’ For most, the answer is staring them in the face, and that continues to hold ...

blog header image
NEWS
TIGHTER SELF-EMPLOYED AND AFFORDABILITY RULES HERE ‘FOR SOME TIME’ – HSBC

Tighter self-employed and affordability rules here ‘for some time’ – HSBC Tightened self-employed lending criteria and affordability rules are seen across the mortgage market since ...

blog header image
NEWS
SNITCHES GET RICHES: HMRC PAYMENTS TO TAX EVASION WHISTLEBLOWERS UP 63% IN 2019/20

HMRC reported a 63% increase in payments to whistleblowers for reporting tax evasion in the 2019/2020 tax year, paying £473,000 to informants during the period.  In the previous tax year HM ...

blog header image
NEWS
LEE MARLEY OPENS LEEDS OFFICE

Lee Marley Brickwork Ltd has appointed Mike Hampton as commercial director to head up its new regional office in Leeds. Leeds becomes the fourth regional operation of Lee Marley Brickwork (LMB), join ...

blog header image
NEWS
SELF-EMPLOYED TREATED AS ‘SECOND-CLASS’ BY SOME LENDERS, BROKERS SAY

Self-employed workers are being treated like ‘second-class citizens’ by some mortgage lenders, as two-tier systems and punitive criteria leave these applicants severely disadvantaged, brok ...

blog header image
NEWS
RECRUITING PEOPLE FROM OUTSIDE THE UK FROM 1 JANUARY 2021

From 1 January 2021, freedom of movement between the UK and EU will end and the UK will introduce an immigration system that will treat all applicants equally, regardless of where they come from. Anyo ...

business-directory Business Directory
smartbusinessdirectory Payroll Services Business Directory
truebusinessdirectory payroll-services Directory
payroll-services Directory