Construction orders turn upwards again
Wednesday 20 April 1994
New orders totalled pounds 2,184m in February at 1990 prices and adjusting for normal seasonal influences. With the exception of December this was the highest figure since the end of the recession. Orders for housing and infrastructure work fell in February, but public and commercial orders rose sharply.
New construction orders in the three months to February were 14 per cent up on the previous three months and more than 30 per cent on the same period last year.
The figures provide further evidence that the economic recovery has built up momentum before this year's tax increases bite. But some doubt about the strength of recovery on the high street was cast by downward revisions to growth figures for the narrow money supply measure M0 - cash plus bankers' balances at the Bank of England.
M0 grew by 5.6 per cent in the year to March, according to the Bank. This compared with an earlier estimate of 5.8 per cent. The annual growth rate over the past three months was revised down from 7.1 to 5.3 per cent.
The figures had little impact on the financial markets, where there was some half-hearted speculation on an early interest rate cut. The FT-SE index of 100 leading London shares fell 10.2 points to 3,128.
Most construction firms surveyed by the Building Employers Confederation reported output unchanged in the past three months from the previous quarter. Sir Brian Hill, president, said 'only a limited improvement' was likely this year. 'It will be some time before we regain our potential to generate significant numbers of new jobs.'
- 1 David Cameron refers to 83-year-old Labour MP Dennis Skinner as 'Jurassic Park'
- 2 Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
- 3 Optical illusion turns blue demon into brunette
- 4 German ethics council calls for incest between siblings to be legalised by Government
- 5 Saudi Prince Alwaleed bin Talal will donate entire $32bn fortune to charity
Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
German ethics council calls for incest between siblings to be legalised by Government
Saudi Prince Alwaleed bin Talal will donate entire $32bn fortune to charity
Forget little green men - aliens will look like humans, says Cambridge University evolution expert
Greece debt crisis: Country firmly on course to hold EU referendum as eurozone leaders reject new bailout request
The moment a Queen's Guard soldier lost it and drew his gun at annoying tourist
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Greece crisis: The wider lesson is that it’s time to abandon this failed experiment in currencies
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
They are neither a 'state' nor 'Islamic': Why we shouldn't call them Isis, Isil or IS
Tunisia beach attack: How can British Muslims respond to the latest outrages?
iJobs Money & Business
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...
£22500 - £27000 per annum + OTE £45K: SThree: Since our inception in 1986, STh...