SBF Comments on Latest UK Construction PMI
SBF Comments on Latest UK Construction PMI
Commenting on the latest UK Construction Purchasing Managers’ Indexes (PMI), published today (2nd November 2011), Scottish Building Federation Chief ExecutiveMichael Levack said:
“These latest figures follow some pretty gloomy data earlier this week showing the UK construction sector contracted by 0.6% in the third quarter of 2011, while employment figures show the Scottish industry shed some 10,000 jobs between May and July. Although the data shows some modest recovery in the industry in October, it is worrying to see that the housebuilding sector continues to struggle and general confidence amongst industry employers remains very shaky. There is an ongoing concern that recovery in the private sector remains weak and significant cuts in public spending are likely to hamper the industry’s prospects over the next 12 months and beyond.
“Over and above the commitments it has already made, I would urge the Scottish Government to pursue an even more aggressive strategy to prioritise capital spending in next year’s budget, to give a further stimulus to the industry to help rebuild jobs and capacity, and support recovery in the wider economy at the same time.”
- Ends -
Notes to Editors
1. Purchasing Managers’ Indexes (PMI) for theUKconstruction sector for October 2011 were published today (2nd November) by Markit Economics:
http://www.markiteconomics.com/MarkitFiles/Pages/ViewPressRelease.aspx?ID=8759
For more information, please contact Lynsey Anderson - lynsey@scottish-building.co.uk.
2nd November 2011
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