Commercial building activity falling at a record rate
http://www.iguides.org/articles/articles/2147/1/Commercial-building-activity-falling-at-a-record-rate/Page1.html
Dave Tug
Internet marketer with a passion for sharing information online. By Dave Tug
Published on 11/17/2008
The UK construction market is contracting rapidly, with commercial activity in particular falling at a record rate, according to data from the Chartered Institute of Purchasing & Supply (CIPS) and Markit UK.
Their latest purchasing managers' index shows that the construction economy shrank more strongly in September than in the previous month, with housing and commerical sectors both falling faster. However, in civil engineering - once again the best-performing sub-sector - the decline slowed to only a marginal contraction last month.
In the building sector overall, new orders, purchasing and subcontractor usage were all strongly down, alongside employment, with construction firms cutting staff numbers at a record pace.
Most survey participants attributed the continuing industry decline to the wider financial crisis and poor global economic conditions. These conditions have left firms are struggling to win new work, and the seasonally adjusted new orders index posted its second-lowest reading in the survey history.
Gemma Wallace, economist at Markit said: "There can be little doubt that the UK construction economy is now mired in a recession, and one that is likely to prove difficult to recover from.”
She added: “Although there were promising signs in August of an end to the downward trend in the key indexes, September figures showed a renewed slide."
The index registered a headline figure of 38.8 in September, a marked deterioration from 40.5 in August. The seasonally adjusted housing and commercial activity indices registered 26.1 and 36.4, respectively.
Roy Ayliffe, director of professional practice at the CIPS, said: “Housing again took a battering and was joined by the commercial sub-sector in terms of bleak performance. In the face of myriad obstacles, including rocketing energy prices, UK constructors were dejected and their confidence about the future performance of the sector hit a record low.”
About UK Business Property
Whilst there are more than 20 portals covering residential property in the UK the commercial property market remains relatively unserved, with no site having a majority share of the total available commercial property listed. The internet has taken a significantly greater share of all advertising spend each year as it continues to prove that it is the most effective medium for advertisers to reach their audience.
Traditional estate agency methods remain quite successful in reaching the local market around a property, but do not capture leads from the national and international markets at all well. With increasing mobility of populations and business in the global village, it makes sense to expose commercial properties as efficiently as possible to the whole market. In 2006 there were 6 million searches (based on figures from Yahoo Search) made on the internet in the UK for commercial property of all types. Many of these searches will be fruitless as major search engines do not expose many of the available properties at present.
UK Business Property aims to change this by offering commercial agents important incentives to bring all their properties to the whole market. By linking to UKBP agents will bring more traffic to their websites. For agents who do not yet have a fully featured search on their website UKBP offers it's advanced search functions free of charge, in an easy to implement solution. The advantage is that you keep your visitors on your site and build your brand in your local market, while receiving leads from a national and international audience.
Find commercial property at UK Business Property.
The UK construction market is contracting rapidly, with commercial activity in particular falling at a record rate, according to data from the Chartered Institute of Purchasing & Supply (CIPS) and Markit UK.
Commercial building activity falling at a record rate
The UK construction market is contracting rapidly, with commercial activity in particular falling at a record rate, according to data from the Chartered Institute of Purchasing & Supply (CIPS) and Markit UK.
Their latest purchasing managers' index shows that the construction economy shrank more strongly in September than in the previous month, with housing and commerical sectors both falling faster. However, in civil engineering - once again the best-performing sub-sector - the decline slowed to only a marginal contraction last month.
In the building sector overall, new orders, purchasing and subcontractor usage were all strongly down, alongside employment, with construction firms cutting staff numbers at a record pace.
Most survey participants attributed the continuing industry decline to the wider financial crisis and poor global economic conditions. These conditions have left firms are struggling to win new work, and the seasonally adjusted new orders index posted its second-lowest reading in the survey history.
Gemma Wallace, economist at Markit said: "There can be little doubt that the UK construction economy is now mired in a recession, and one that is likely to prove difficult to recover from.”
She added: “Although there were promising signs in August of an end to the downward trend in the key indexes, September figures showed a renewed slide."
The index registered a headline figure of 38.8 in September, a marked deterioration from 40.5 in August. The seasonally adjusted housing and commercial activity indices registered 26.1 and 36.4, respectively.
Roy Ayliffe, director of professional practice at the CIPS, said: “Housing again took a battering and was joined by the commercial sub-sector in terms of bleak performance. In the face of myriad obstacles, including rocketing energy prices, UK constructors were dejected and their confidence about the future performance of the sector hit a record low.”
About UK Business Property
Whilst there are more than 20 portals covering residential property in the UK the commercial property market remains relatively unserved, with no site having a majority share of the total available commercial property listed. The internet has taken a significantly greater share of all advertising spend each year as it continues to prove that it is the most effective medium for advertisers to reach their audience.
Traditional estate agency methods remain quite successful in reaching the local market around a property, but do not capture leads from the national and international markets at all well. With increasing mobility of populations and business in the global village, it makes sense to expose commercial properties as efficiently as possible to the whole market. In 2006 there were 6 million searches (based on figures from Yahoo Search) made on the internet in the UK for commercial property of all types. Many of these searches will be fruitless as major search engines do not expose many of the available properties at present.
UK Business Property aims to change this by offering commercial agents important incentives to bring all their properties to the whole market. By linking to UKBP agents will bring more traffic to their websites. For agents who do not yet have a fully featured search on their website UKBP offers it's advanced search functions free of charge, in an easy to implement solution. The advantage is that you keep your visitors on your site and build your brand in your local market, while receiving leads from a national and international audience.
Find commercial property at UK Business Property.