CIPS PMI comment: Construction sector gaining momentum
06 April 2022
Fraser Johns, finance director, Beard said: “The growth in new work is really encouraging. Commercial projects are kicking off and these helped keep construction growth at its highest level since last summer.
“Input buying and job creation, key indicators of the sectors overall health, show the sector is gaining momentum. However, there are hurdles to overcome.
“Optimism in the sector is low as inflation, combined with rising energy prices and difficulties filling jobs are potential issues on the horizon.
“These are not insurmountable though, and they even present opportunities for construction firms to revaluate their ways of operating. The skills shortage has long been an issue for the sector and construction firms need to improve diversity to change perceptions of the construction sector. By adopting inclusive practices, construction can attract people from diverse range of backgrounds which will help solve the skills shortage.
“Logistical difficulties are still a sector-wide issue and the current situation highlights the importance of supplier relations. At Beard we work closely with the suppliers, ensuring we have constant dialogue to avoid get ahead of potential issues and we pay suppliers promptly to help them avoid cashflow issues.”
