Construction activity slowed in August
The growth of the UK’s construction industry slowed for the third month running in August, according to a survey for the Chartered Institute of Purchasing and Supply.
The purchasing managers index, compiled by financial data company Markit, showed a score of 52.1 for August, down from 54.1 in July.
The score, the lowest for six months, is calculated by surveying purchasing managers at construction firms about their levels of activity.
David Noble, chief executive of the CIPS, said: ‘Those who are looking for signs of a slowdown will find plenty to worry about in this month’s construction PMI.
‘The most disturbing is the marked slowdown in the residential sector as this is where much of the recent growth has come from.
‘The slight increase in public sector activity disguises continuing uncertainty about the scale of spending cuts which we have yet to experience.’
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Readers' comments (3)
Melvin Bone | 02/09/2010 3:21 pm
Is it a surprise that at the height of the British 'summer' construction slowed?
Did it slow down last August? Or the one before?
Thanks in advance for your facts Carl.
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Paine | 02/09/2010 6:39 pm
Melvin, I thought this index reflected purchasing activity - materials for buildings yet to be constructed - not output?
Perhaps no-one has told them that having a Tory PM means the economy automatically thrives. I can't understand what else would explain this.
Unless maybe its "goodbye" growth and "konichiwa" stagnation?
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Chris | 02/09/2010 8:52 pm
In November the geese tend to fly south
In January it often snows
The Easter bunny is not real
Just thought we could get some obvious headlines out of the way for the next few months!
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