The Federation of Master Builders (FMB) has expressed positivity for 2024, despite S&P Global/CIPS UK Construction PMI data indicating a decline in December 2023.
The S&P Global UK Construction PMI indicated another “solid fall” in UK construction activity,
however, according to the report, the December figures indicated the slowest decline for four months, since September, when the decline began.
Brian Berry, CEO at the FMB, reacted to the report:
“December’s Construction Output data once again shows a continued decline in house building rates, with commercial construction rates also down.
“There are, however, positive signs that the rate at which activity within the industry is declining is starting to slow, giving hope that 2024 may be a year when we finally start to see improvement.
“House building rates are still continuing to decline, and a comprehensive action plan is necessary if the UK is to deliver on the increased confidence of construction companies that 2024 will bring a rise in business activity.”
Source: Development Finance Today