The ONS publish their 2nd quarter results

The ONS have just published their 2nd quarter results for new orders in the construction industry. When the 2 quarters are combined and the half year is compared to the same period in 2009,  most sectors have shown an increase. However the movement between Q1 & Q2 of this year is not as positive with all sectors dropping with one exception, private industrial work, which is showing a growth in new orders. This is interesting because another survey ‘Manufacturing Outlook’ by the EEF supports an up-beat performance by the UK’s manufacturers. EEF report that a recovery in manufacturing has been sustained in recent quarters and this is driven by overseas markets. This has now translated into positive recruitment and investment intentions amongst those taking part in the survey. This may be the reason why the ONS 2nd quarter results are showing an increase in industrial orders which can only be good news for recruiters and other companies involved in the industrial sector. sean@mcginley.co.uk