Top Removals, a company at the forefront of the removal industry in London, has responded to news that construction growth has slowed

Figures have shown that construction sector growth has slowed to its lowest rate in seven months, in spite of a surge in house building in May.

Data from the latest Markit/CIPS purchasing managers’ index (PMI) has found that growth in the sector has slowed significantly in relation to the rapid pace that was recorded over the winter months, with a decline from 62.5 in March to 60 in May.

The reported decline reflects a major slowdown in commercial building activity, worrying many experts. Residential building projects remained the biggest areas of activity with suggestions that companies are benefiting from Government programmes such as the ‘Help to Buy’ scheme.

However, in spite of a general slowing, the construction industry itself is still reported to be enjoying one of its biggest expansion periods since 2007, although reports have output 10% down on the pre-crisis peak.

Chief UK economist at Berenberg, Rob Wood, said that while the PMI has slipped, the sector is still in good shape:

“Construction is still booming despite the PMI slipping back a little in May. Construction had a bad recession as the government slashed investment projects and the housing market crashed. But the economic recovery is driving a sharp upturn. Low interest rates, rising confidence and surging house prices are combining in a sweet spot for the sector.”

Senior economist at Markit, Tim Moore, added:

“Output growth hit a seven-month low in May, but the UK construction sector is enjoying its strongest overall phase of expansion since the summer of 2007. Residential building remains a key engine of growth, with survey respondents citing another surge in new house building starts during May.”

Top Removals, a company in the removals sector who frequently comment on industry related news and research, believes that continued growth in the construction sector has played a role in rising home and business relocations.

A representative for Top Removals said:

“There has been considerable growth in the construction sector over the last few years and we believe that it’s helped us and other companies like us to no end. There’s been a lot of movement from both a personal and commercial perspective, with more people than usual moving home and business premises, and many of them depend on professional removal companies like us to help them.

“If you’re moving into a new house build we e can help you to get your belongings from your current home into your new one in a fashion that is fast, secure and professional.”

Top Removals is a London based company that is revered in the sector for providing the very best in moving and moving-related services in and outside of London. The company hasn’t been around long but they’ve quickly built a reputation as one the most professional, friendly and effective in the industry. Visit their website at http://topremovals.co.uk to discover more about their services.

For quotes contact Emil Perushanov on 020 7205 2525 or info@topremovals.co.uk.