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Optimism returns to construction sector following start of year blip

05 March 2021

Kate Kirby, partner in the Construction team at DWF, comments on the IHS Markit / CIPS UK Construction PMI for February 2021.

Kate said: "There was a return to growth for the construction sector in February following a brief and unexpected blip in January. New commercial building projects, previously delayed by the pandemic, have been getting off the ground in greater number. Meanwhile the strength of the housing market – buoyed by the current SDLT savings for buyers – has also remained a strong area, despite the speed of this growth slowing down since January.  

"There have been supply chain issues and a rise in transport costs to contend with in February, however the future continues to look bright for the sector, which has also recorded a slight rise in new jobs. 

"There is a wide degree of optimism surrounding the successful vaccine roll out that is perhaps reflected in this month's data. As the UK emerges from the current lockdown conditions as the year progresses, the sector is set to continue on its upward path."

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