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Tuesday22 July 2014

UK construction activity rose in October

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Markit/CIPS index measures 50.9 for the month

UK construction activity rose slightly in October but overall outlook remains depressed, according to the latest Markit/CIPS data.

The monthly index found a subdued trend in output levels, with moderate reductions in new work and employment.

Overall the index rose to 50.9 in October, up from 49.5 in September. However, it is only factionally above the 50.0 mark which represents no change.

Tim Moore, senior economist at Markit, said: “Construction firms are seeing the most protracted period of new business losses since 2008/09, meaning an escalating shortage of work to replace completed projects.

“Reflecting this, the year-ahead business outlook was still relatively subdued during October, as survey respondents cited weak spending patterns and squeezed budgets among clients. Some construction firms also noted greater worries about competition for new work amid signs of over capacity in parts of the industry.”

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