{"id":29017,"date":"2016-12-02T11:57:49","date_gmt":"2016-12-02T11:57:49","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=29017"},"modified":"2016-12-02T12:09:57","modified_gmt":"2016-12-02T12:09:57","slug":"construction-grows-costs-rocket","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/construction-grows-costs-rocket\/29017\/","title":{"rendered":"Eight-month high for construction growth but costs rocket"},"content":{"rendered":"<h2>The latest Markit survey has revealed while UK construction growth hit an eight-month high, costs have skyrocketed reaching levels not seen since 2011<\/h2>\n<p>Construction growth reached an eight-month high in November, it has emerged. The latest <a href=\"https:\/\/www.pbctoday.co.uk\/news\/?s=markit\" target=\"_blank\">Markit\/CIPS<\/a> UK Construction Purchasing Managers\u2019 Index (PMI) moved from 52.6 to 52.8 last month. Anything over 50 indicates growth in the sector.<\/p>\n<p>However, the industry also saw costs rocket at the fastest pace since 2011. This was due to the sterling falling after the EU referendum vote.<\/p>\n<p>Tim Moore, senior economist at <a href=\"http:\/\/www.markit.com\/\" target=\"_blank\">Markit<\/a>, said: &#8220;UK construction companies experienced a steady recovery in business activity during November, which continues the rebound from the downturn seen over the third quarter of 2016.&#8221;<\/p>\n<h3>Growth seen in housebuilding<\/h3>\n<p>According to the survey, it was improvements in commercial and civil engineering activity, as well as a growth in housebuilding that pushed up the index reading. Furthermore, the resumption of projects that had been delayed until the vote was also a factor.<\/p>\n<p>Moore added: \u201cThe brighter picture reflected another solid contribution from residential building and renewed growth in commercial work, which some companies linked to a resumption of projects that had been delayed after the Brexit vote.\u201d<\/p>\n<h3>Optimism remains low<\/h3>\n<p>However, despite the growth optimism in the sector about the coming year remains at lows not seen since early 2013.<\/p>\n<p>\u201cA number of firms cited uncertainty related to supplier price hikes as an emerging threat to the construction sector, with survey respondents commenting on difficulties forecasting project costs against a backdrop of rapidly changing inflationary pressures,\u201d Moore said.<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The latest Markit survey has revealed while UK construction growth hit an eight-month high, costs have skyrocketed reaching levels not seen since 2011<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[678],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-29017","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-markit"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Eight-month high for construction growth but costs rocket<\/title>\n<meta name=\"description\" content=\"The latest Markit survey has revealed while UK construction growth hit an eight-month high, costs have skyrocketed reaching levels not seen since 2011\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/construction-grows-costs-rocket\/29017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eight-month high for construction growth but costs rocket\" \/>\n<meta property=\"og:description\" content=\"The latest Markit survey has revealed while UK construction growth hit an eight-month high, costs have skyrocketed reaching levels not seen since 2011\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/construction-grows-costs-rocket\/29017\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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