29th May 2017
Better growth and sales for the construction industry
The first quarter of 2017 has seen the highest level of UK construction machinery exports in 2 years, with sales topping approximately £706 million. The US remained the top destination for UK exports in Q1, accounting for 19% of total exports on a weight basis, as well as 23% by monetary value, which is a great relationship to have in light of Brexit.
The report from the Construction Equipment Association says “continued healthy export sales can be attributed to both improving demand in some of the major overseas markets, as well as the benefit of the weaker £ exchange rate since the middle of 2016, following the Brexit referendum”.
It's not just good news for export sales either, as growth is accelerating in the construction sector once again due to the stabilisation of the housing market. After beginning the year with a considerable slowdown, there is now demand for new homes and large civil engineering projects leading companies to hire more staff to meet that rising demand.
As a result, overall construction output grew at its fastest pace so far this year, according to the purchasing managers’ index from IHS Markit rising from 52.2 in March to 53.1 in April - a score above 50 indicates growth.
At Davenham Asset Finance, we can resonate with this encouraging news from the CEA with an increase in the number of proposals we’ve seen coming into our leasing team, relating to plant and machinery.
We are passionate about supporting the construction sector through our plant and machinery financing solutions. Our innovative funding solutions for the construction industry are sustainable and practical for all involved, releasing funding when your business needs it using balance sheet assets. Asset finance and refinance offers a direct and specific way to raise capital or ease cash flow pressure, and ultimately helps businesses grow.
If you would like to learn more about our construction plant and machinery finance solutions, please don’t hesitate to get in touch with our dedicated team on 0161 832 8484.
The report from the Construction Equipment Association says “continued healthy export sales can be attributed to both improving demand in some of the major overseas markets, as well as the benefit of the weaker £ exchange rate since the middle of 2016, following the Brexit referendum”.
It's not just good news for export sales either, as growth is accelerating in the construction sector once again due to the stabilisation of the housing market. After beginning the year with a considerable slowdown, there is now demand for new homes and large civil engineering projects leading companies to hire more staff to meet that rising demand.
As a result, overall construction output grew at its fastest pace so far this year, according to the purchasing managers’ index from IHS Markit rising from 52.2 in March to 53.1 in April - a score above 50 indicates growth.
At Davenham Asset Finance, we can resonate with this encouraging news from the CEA with an increase in the number of proposals we’ve seen coming into our leasing team, relating to plant and machinery.
We are passionate about supporting the construction sector through our plant and machinery financing solutions. Our innovative funding solutions for the construction industry are sustainable and practical for all involved, releasing funding when your business needs it using balance sheet assets. Asset finance and refinance offers a direct and specific way to raise capital or ease cash flow pressure, and ultimately helps businesses grow.
If you would like to learn more about our construction plant and machinery finance solutions, please don’t hesitate to get in touch with our dedicated team on 0161 832 8484.