UK construction industry buoyed by house-building - Surveys

The latest industry surveys conducted by the UK the National House-Building Council (NHBC) Royal Institution of Chartered Surveyors (RICS) showed that the modest growth in house-building is likely to negate the impact of the Brexit uncertainty on the UK  construction industry, courtesy Reuters.

Key Findings:

“Builders registered 37,672 new homes for warranties and insurance from the National House-Building Council (NHBC) between January and March, up 3 percent compared with a year earlier.

NHBC’s figures, which cover 80 percent of the new homes market, are viewed as a lead indicator for the housing sector.

The RICS said private house-building supported the otherwise subdued construction industry, with overall confidence at an almost six-year low.

Attention now turns the UK construction purchasing managers index (PMI) for April from IHS Markit/CIPS due later today at 0830 GMT.”