Construction Sector Struggling With Low Confidence
The construction sector is experiencing reinvigorated growth following stalled activity back in September, but the industry is still struggling to recover its confidence.
This growth rise has been entirely driven by house-building, as commercial projects and infrastructure continue to slow in October.
But confidence in the sector has hit its lowest level since December 2012, which is a fifty-eight month low.
Tim Moore of IHS Markit stated that commercial activity and civil engineers were seeing “sustained declines”, with firms claiming they are not receiving new contracts once others are completed.
Moore admits the rise in house-building may be a “bright spot”, but it could still be a difficult month for the construction sector.
With interest rates now increased, and reliance on residential building not a priority, the sector may be forced to expand.
Duncan Brock, of the Chartered Institute of Procurement and Supply insisted that if the sector was going to continue its growth, it needed to advance the skills of its staff. Brock called for action by the Chancellor of Exchequer, Richard Hammond, who could afford attention to the sector in his new budget this month.
Keep up to date with the latest news by following us on social media:-
Watch the video to find out how CPA can help you
Read Our Blog – How to overcome common excuses for non-payment
Read our blog – Debt collection agency
Read our Cash Flow Advice
Read about our overdue account recovery service
Read our blog – What is credit management?
Read our blog -What is a credit management company?
Read our blog -Credit Management that works!
Read our blog – How to select a debt collection agency
click to see read about our successes
Please call us on 0330 053 9263 to discuss how CPA can help your cashflow. Alternatively, either email us or use our contact form.