US Construction Spending Flat In September
WASHINGTON (Alliance News) – Construction spending in the US came in virtually unchanged in the month of September, according to a report released by the Commerce Department on Thursday.
The Commerce Department said construction spending in September was estimated at an annual rate of USD1.33 trillion, nearly the same as the revised August estimate. Economists had expected spending to inch up by 0.1%.
Reflecting an upward revision, the report showed construction spending climbed by 0.8% in August compared to the previously reported 0.1% uptick.
Construction spending was nearly unchanged in September, as an increase in spending on private construction was offset by a drop in spending on public construction.
For more information on the US construction spend, you can read the full article here.
Otis’ self-climbing lifts used in construction of City of London’s tallest skyscraper
Dezeen promotion: Otis’ Sky Build lifts, which climb up a building as it is built, are enabling the efficient construction of the 278-metre-tall Twentytwo skyscraper in London’s financial district.
Designed by London-based PLP Architecture, the tower formerly known as 22 Bishopsgate will be the tallest building in the City of London when it completes in 2019.
For more information the self-climbing lifts, you can read the full article here.
UK construction activity brightens in October — PMI survey
Britain’s construction activity picked up in October lifted by higher civil engineering work, but concerns for future activity remain amid slower new orders growth and confidence dipping to a near six-year low.
The purchasing managers’ index for the industry rose to 53.2 in October, up from September’s six-month low of 52.1, and far above economists’ expectations of 52. This was the second-highest level in 16 months.
A reading above 50 indicates growth while anything below points to contraction.
Continue reading here.
Morgan Sindall shrugs off construction turbulence to predict record profits
The boss of construction giant Morgan Sindall shrugged off turbulence in the sector, insisting it was on track to post record revenues and profits despite a slump in forward orders.
The company, whose work ranges from fitting out City offices to building affordable housing and railway tunnels, told investors that trading in the second half of its financial year had “remained strong” and it would end the year with a better than expected cash position.
John Morgan, who started the company in 1977 and remains chief executive, said it was standing out in what had been an otherwise “gloomy” sector.
You can read The Telegraph’s full article here.