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2 Dec 2014
Construction activity in UK falls to 13-month low in November
FXStreet (Mumbai) - The Markit/CIPS UK Construction Purchasing Manager’s Index fell to a 13-month low of 59.4 in November, compared to the expected print of 61.00, and down from the October’s 61.4.
The pace of expansion eased down mainly due to a marked slowdown in civil engineering activity, which was weakest since July 2013. Meanwhile, residential building and commercial construction activity expanded at a slowest pace since October 2013. However, the data did point to a rise in new business volumes for the nineteenth consecutive month.
Overall the outlook for the construction firms stays optimistic, though some construction firms cited concerns among clients regarding a broader economic outlook. The only dark spot ahead, as per Tim Moore, Senior Economist at Markit, is the shortage of skilled workers in the construction sector.
The pace of expansion eased down mainly due to a marked slowdown in civil engineering activity, which was weakest since July 2013. Meanwhile, residential building and commercial construction activity expanded at a slowest pace since October 2013. However, the data did point to a rise in new business volumes for the nineteenth consecutive month.
Overall the outlook for the construction firms stays optimistic, though some construction firms cited concerns among clients regarding a broader economic outlook. The only dark spot ahead, as per Tim Moore, Senior Economist at Markit, is the shortage of skilled workers in the construction sector.