The latest figures from the Markit / CIPS index provide good news for the UK construction sector, revealing a fifth consecutive month of industry growth since April 2013.
The figures for September were an encouraging 58.8, down slightly on the six year high of 59.1 experienced in August but still significantly higher than the 50 figure necessary to indicate growth.
The third quarter of 2013 has experienced the strongest construction industry growth for more than three years, a record that stretches back to the second quarter of 2010. Promisingly, commercial and industrial construction has also grown over the past month, with greater investment in infrastructure projects finally beginning to pay dividends.
Residential construction, however, continues to lead the way for the construction sector and acts as a major facilitator for growth. Concerns remain that the government’s ‘Help to Buy Scheme’ is accelerating residential construction to unsustainable levels, and that when the market stabilises construction growth will plateau once more.
Whatever happens, construction accounts management software will help your business to deal with the ups and downs of trade in future, keeping your firm compliant, profitable and ready for anything the market can throw at it this year.