December was a tough month for civils firms, fresh evidence has confirmed.
Construction intelligence unit Glenigan found that the value of infrastructure starts dipped by 11% last month to its lowest level since February 2013.
This comes after yesterday’s Construction Purchasing Managers’ Index revealed that civil engineering activity as a whole fell in December 2014 for the first time since May 2013.
Glenigan’s Civil Engineering Index, which measures the value of projects starting on site over the previous three months, excluding very small and very large schemes, read 117 in December.
This was down from 132 in November, and a high of 178 in May to a level last seen 22 months earlier.
Across all sectors of construction, the Glenigan Index was down 7% from November to end the year on 99 – the same as its level in December 2013.
Glenigan economics director Allan Wilen said: “While the industry appears to have been catching its breath during the final quarter, this should be no cause for alarm. Construction starts grew by 10% in 2014, the fastest pace for seven years.
“The forward pipeline is also encouraging. In contrast to the pause in starts over the last three months, the flow of projects achieving planning approval has accelerated.”