United Kingdom

Details

  • Industry: Infrastructure, Building and Construction
  • Type: Press release
  • Date: 02/10/2012

UK construction nightmare continues, says KPMG 

 

Richard Threlfall, KPMG’s UK head of infrastructure, building & construction, comments on the latest Markit/CIPS UK Construction PMI, which rose to 49.5 from 49.0 in August:

 

“Today’s figures confirm the growing nightmare not just for the UK construction industry but for the whole UK economy. With housebuilding activity dropping still further and commercial construction falling yet again, there is no obvious light at the end of the tunnel.

 

“We all want to wake up and find this isn’t real, but sadly it is. The only way out is for fast, determined action to stimulate growth across the construction industry. The house building sector and our utilities are where the Government needs to concentrate all its efforts.

 

“KPMG’s recent infrastructure survey with the CBI confirmed that business leaders want to see more action, less rhetoric. Last month we saw the Government announce £10 billion guarantees for the housing industry, on top of £40 billion of infrastructure guarantees and a Bank of England scheme to lower borrowing costs for households and smaller businesses. The implementation of these policy initiatives is now the key to getting new housing developments started and investment flowing into our rail, road and energy networks.”

 

Ends

 

For further information please contact:

 

Arti Mohan, Corporate Communications

Tel: 020 7694 8735

Mobile: 07768 858 085

Email: arti.mohan@kpmg.co.uk

 

KPMG Press Office: 020 7694 8773

 

About KPMG

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff.  The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

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