CIPS Activity Index comment: Construction sector records "impressive bounce back"
Commenting on the latest CIPS figures, Fraser Johns, finance director at Beard, said:
“After a big dip in 2020, the construction sector has recorded an impressive bounce back. Primarily driven by strong output in house building, commercial work and civil engineering, March gave reason for optimism for the rest of the year.
“While there was some nervousness at the start of 2021, the sector appears to have shaken these nerves and there is hope that this will be a strong and relatively quick recovery. Job creation was at its highest for over two-years, which is a clear sign the industry is feeling more positive in planning for projects.
“It certainly won’t be plain sailing from here however, with pressure put on supply chains, which has become evident with material shortages and logistical issues becoming more prevalent.
“With the success of the vaccine rollout and a roadmap for the return to normal in place, confidence should keep building as projects that have been on hold are given the green light.”
IHS MARKIT / CIPS UK Construction Total Activity Index which found construction output rose by its sharpest pace since September 2014
Published: 08 April 2021