Archive for the ‘Construction Industry Accounting’ Category

Construction Industry – One Of The Growth Sectors

Tuesday, June 4th, 2013

As a company that has vast experience managing accounts in the construction industry we are fully aware how difficult times have been for some clients in the construction and building sector so it is nice to see some positive reports for a change.

Construction Industry Growth Reports

Is the UK economy on the turn?

The construction industry is reporting growth for the first time in 7 months as the demand for housebuilding has produced positive results which is great news for everyone including the construction community here in Wales …

Construction Industry

Construction Industry

Construction sector expands for first time in 7 months

An increase in housebuilding has helped Britain’s construction sector expand for the first time in seven months, according to the latest purchasing managers’ survey.

The Markit purchasing managers’ index for the construction sector rose from 49.4 in April to 50.8 in May – the first time since October it has climbed above the 50 mark that separates expansion from contraction. [Original source: here]

Staying on a positive front The Telegraph also reports the upward trend in the construction industry again attributing housebuilding as the main drive behind the growth …

Housebuilding drive lifts UK construction in May

Britain’s fragile construction sector started growing again in May, as a jump in residential housebuilding helped output rise for the first time in seven months.

Residential housebuilding grew at the fastest pace for 26 months, after Government plans unveiled in March to make it easier to get a mortgage spurred a construction drive.

“The Government’s attempts to boost house building has given months of lacklustre growth a shot in the arm,” said David Noble, head of the Chartered Institute of Purchasing & Supply. [Original source: here]

UK Construction Industry

 

 

Meanwhile a report in the International Business Times reports the Trade Union Congress taking a different view when it comes to the UK’s economy and how the collapse of the construction industry had a direct effect on the economy …

UK Growth Withering Under Weight of Collapsing Construction Sector

Britain’s ailing economy would have grown three times faster than it has if the construction sector had not collapsed under the weight of government austerity, according to analysis by the Trades Union Congress.

The TUC says its research shows that if construction output had remained the same over the past five quarters, rather than collapsing from the final three months of 2012, GDP growth would have been 1.2% rather than just 0.4%.

If you are in the construction industry and would like to discuss how Ferguson accountants can help improve your financial performance call us on Swansea 01792 894375

Construction Specialists