Stephen Marcos Jones, CEO of the Association for Consultancy and Engineering (ACE) responds to the latest IHS Markit / CIPS UK Construction PMI figures.

“Given recent macro-economic events and movements in the financial markets, it will come as no surprise to see business optimism is struggling – it is clear that the coming weeks and months will be challenging.

“The survey reveals confidence in the pipeline, and we were pleased to see steps to expediate major infrastructure projects in the Chancellor’s recent fiscal statement, but it is increasingly evident that we need more reassurance for the sector in the form of an increase in new orders. Government and public sector clients need to lead by example.

“I know from our own survey of ACE members that nearly a fifth (19%) of respondents’ order books are more than half-empty in 2023, 45% have between half and a quarter of their capacity available, and 29% under a quarter of their capacity available.”