Beard Construction comments on CIPS PMI data

Following the release of the latest CIPS PMI construction data, which shows a rise in new work for the first time since July 2023, please find a comment from Beard Construction.

Jamie Harwood, director at Beard, said: “It is certainly positive to see a boost in new orders as confidence continues to improve across the sector and importantly, among customers too. Even with some of the macro-pressures that still remain, customers are finding the confidence to commit to projects - buoyed by the prospects of the year ahead. We’ve certainly seen this on the ground at Beard, with our secured orders at a record high.

“Of course, eyes will be on the budget later today to see if there’s any news of potential stimulus or investment into the sector, ahead of the upcoming general election. Alongside the election and any potential change in government, many will be watching the Bank of England and the potential path of interest rates, which will certainly help to alleviate the pressures some customers are facing.

“It’s very positive to see an end to a decline in new work, with greater optimism for both order books and pipelines. At Beard, we continue to see growing demand from regional frameworks, as well as starts on site in many key sectors – including education and in the commercial sector. We’re also seeing growing demand within our special projects division and for smaller value projects. Continuing this momentum and nurturing this positivity among customers remains a priority, as does maintaining those strong partnerships with customers and with our supply chain.”

Published: 06 March 2024