Richard Threlfall, KPMG’s head of infrastructure, building and construction, comments on Markit/CIPS UK construction Purchasing Managers’ Index (PMI) which sees the sharpest drop in construction output for two-and-a-half years:
“Today’s disappointing construction figures come as no surprise. We have seen in recent months failures of some of the biggest construction players such as the 150 year old firm Killby & Gayford. More recently we have seen the equally well-respected construction firm Doyle go into administration.
“This is the start of a new phase in the downturn for the construction industry in the UK, driven by a waning pipeline, evaporating margins and lengthening payment periods.
“The pressure on the indutsry is now becoming acute. The government needs to act now to support UK’s struggling construction industry.”
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