{"id":61345,"date":"2019-08-06T10:48:27","date_gmt":"2019-08-06T09:48:27","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=61345"},"modified":"2019-08-06T10:48:27","modified_gmt":"2019-08-06T09:48:27","slug":"blp-construction-pmi","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/blp-construction-pmi\/61345\/","title":{"rendered":"BLP Insurance says latest construction PMI adds to frustration"},"content":{"rendered":"

Following last week\u2019s (2 August) construction PMI figures, BLP Insurance<\/a> says the \u201cindustry needs decisive progress on major infrastructure projects\u201d, as Boris Johnson becomes the Prime Minister<\/h2>\n

Following the release of the construction PMI figures, Phil Harris, director at BLP Insurance, comments on the sector: \u201cIt was unsurprising to once again see little in the way of positive momentum in this month\u2019s PMI figures<\/a>, with record high temperatures only adding to the perpetual pent up frustration of the UK construction sector.<\/p>\n

\u201cThe mood music was all about \u2018can do\u2019 attitude last week as the new Prime Minister<\/a>, Boris Johnson burst on to the scene with ambitious pledges to increase long-desired public spending, signalling plans to plough ahead and \u2018get on with things\u2019 in spite of the Brexit-shaped elephant in the room.<\/p>\n

\u201cThere is no silver bullet for the construction sector\u2019s current woes, and whether we\u2019re really ripe for a Boris bounce remains to be seen. The industry needs clear and decisive progress on major infrastructure projects<\/a> to drive growth, not empty and populist vanity projects for which Johnson was renowned for during his tenure as mayor of London. Many in the sector will be viewing his promised review of HS2 as a litmus test for his intentions.<\/p>\n

\u201cMeanwhile, little about the UK\u2019s circumstances has changed when it comes to Brexit, providing no respite on whether the PM\u2019s spending plans will stand up to scrutiny.<\/p>\n

\u201cOutside of the Boris bubble, new housing minister, Esther McVey also joined a long line of predecessors this month, signalling yet another change of emphasis towards pushing homeownership. Marking the ninth housing minister in just nine years, the construction industry is crying out for a torchbearer to provide the stability to navigate the gloomy Brexit impasse.<\/p>\n

\u201cNonetheless, fundamentals continue to remain strong, and it was encouraging to see a glimpse of optimism with the value of June construction contracts up 5.5% on the previous month. With the 31 October deadline approaching rapidly, it\u2019s vital that the government provides some confidence, clarity and stimulus for the construction sector.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

Following last week\u2019s (2 August) construction PMI figures, BLP Insurance says the \u201cindustry needs decisive progress on major infrastructure projects\u201d, as Boris Johnson becomes the Prime 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