|
ACE has expressed concern about the recent data suggesting lacklustre growth prospects in the UK’s construction sector. The Association for Consultancy and Engineering has called for investment in infrastructure to help strengthen the UK’s economic growth prospects.
The Markit/CIPS construction PMI index has fallen from 53.5 to 52.6, suggesting a fall in optimism in the sector. This, along with the ONS report that news orders fell 16.3% in the second quarter, shows worrying signs for growth in the year ahead.
Nelson Ogunshakin OBE, ACE chief executive, said: “The latest data is very disappointing. It is not long since growth in the construction sector led us out of recession, and now there is a risk that the UK may be heading towards another downturn.”
The government is keen to see the private sector step in and fill the gap left by a fall in public sector work. However, this has not happened yet and the industry is also struggling with uncertainty about the future of major projects and how the National Infrastructure Plan will be translated into major construction projects on the ground to help to revitalise the economy.
Nelson Ogunshakin said: “It is important at times of fragile growth that government creates investment conditions conducive to projects that demonstrate good cost-benefit ratios and wider economic, environmental and social benefits. This will spur growth in the construction industry and enable it to lead the wider economy towards stronger growth.”
- ENDS -
For media inquiries please contact Gavin Pearson (gpearson@acenet.co.uk) (020 7202 0255)
Notes to editors
Photos are available on request.
|