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  • The July Glenigan Index fell by 24% compared to a year earlier, as private sector clients delayed schemes in the run-up and immediate aftermath of the general election. Every sector tracked by Glenigan saw a decline in starts compared to a year earlier, though office and retail work were the hardest hit. The July Index covers the value of all projects starting from April to June 2015 with a construction value between £250,000 and £100 million.
  • The June Markit/CIPS PMI hit a four-month high, recovering further from April’s two year low. Job creation hit its fastest rate of 2015 so far, supported by the most widespread business optimism in over a decade. This increased hiring may have partially reduced dependence on sub-contractors, whose prices rose at the slowest pace for nine months.  Commercial and civil engineering activity was found to have accelerated markedly, but residential work remains the fastest growing area of construction.


  • A leading consumer confidence survey showed a huge leap in sentiment in June. GfK’s consumer confidence index rose to +7 in June, the highest level in over 15 years. The index rose from +1 in May, having held relatively steady between -4 and +4 during the previous 12 months.
  • UK GDP grew by 0.4% during 2015 Q1, faster than the 0.3% rate previously estimated, according to the ONS. Last month’s large upwards revision to the construction output data was the main cause of the improvement. Business investment also grew more strongly than previously estimated, rising by 2.0% in the first quarter, higher than a 1.7% expansion previously estimated.

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