Confidence remained high in the construction industry

Commenting on the today’s CIPS/Markit Construction PMI for May, Jan Crosby, UK head of infrastructure, building and construction, at KPMG said:

“Confidence remained high in the construction industry in May and demand for new projects continued to soar as the sector builds towards recovery.

“With the stamp duty holiday ending soon, house prices remain high, which means the pressure is on to build more residential projects and new housing developments, and the sector is more than responding. As confidence in the UK economy increases the commercial construction sector is bouncing back to meet client demand, and national infrastructure projects are pressing ahead.  

“But as workloads rise the global supply chain bottlenecks remain an issue leading to delays waiting for materials, causing an inflationary rise in the cost of builds – frustrating for a sector which is trying to respond to heightened demand. Overall the sector should be upbeat about these latest figures and confident in committing to new projects.”

ENDS

Notes to Editors
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KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 16,000 partners and staff.  The UK firm recorded a revenue of £2.3 billion in the year ended 30 September 2020.

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