The UK construction industry became “near stagnation” in September, a closely-watched survey has suggested.
The Markit/Cips construction purchasing managers’ index (PMI) dropped from 52.6 in august to 50.1, which is just fractionally above the 50 “no-change” threshold that separates expansion from contraction.
Markit said a decrease in new orders was the reason behind the slowdown, however staffing levels increased slightly.
Confidence in the construction industry remained relatively quiet, the research group said.
On Monday, Markit/Cips data showed surprise growth in the manufacturing sector, with building materials supplier Wolseley, announcing a return to full-year profit but said recent weaker economic forecasts were likely to have an impact on its markets.
Recipro sourced this article from BBC.