PMI comment: Optimism 2022 will be a sustained year of growth

Mike Hedges, director at Beard said: “After a turbulent 2021, January gave plenty of reasons for optimism in the construction sector.

“Growth picked up with new orders and activity levels both increasing. This is in turn generating job opportunities and the sector should look for diverse candidates to fill these roles.

“After a few months of caution, commercial work led the growth as a positive economic outlook gave clients the confidence to green light new projects.

“While lead times are still longer than usual and cost inflation continues place project budgets under pressure, supply chain issues are easing and the strong pipeline of work is building confidence for construction firms.

“With activity ramping up savvy contractors will need to work closely with supply chains to overcome delays, whilst supporting prompt payment practices. As the economy continues to recover, there is optimism that 2022 could be a sustained year of growth in the industry.”

Published: 04 February 2022