Category Archives: Resources

October’s construction output rose fractionally compared with September’s performance but a rise in job cuts saw employment reduce at the fastest rate since August 2011, while new work dropped for the fifth successive month.

“The industry continues to suffer from a potent cocktail of declining export sales, depressed demand and rising cost pressures,” said CIPS CEO David Noble.

New business is at the highest level since May, but buyers said operating conditions remain challenging.

Industry confidence is at an all-time low as the sector shrinks for the second consecutive month, according to the latest PMI.

Costs increase and employment drops as sector experiences another month of declining activity.

A boost in new business gives the The Markit/CIPS UK Services PMI its best reading since March.

The Market/CIPS UK Construction PMI for August was 49.0, down from 50.9 in July.

“The marked easing in the rate of contraction is heartening [but] overall demand remains too lacklustre to provide an imminent and sustained recovery.”

This is somewhat disappointing following the disruption of the Queen’s jubilee in June, said Paul Smith, senior economist at Markit.

The latest Purchasing Managers’ Index for the sector is now at its lowest level since May 2009.