Building powers a bounce
Saturday 03 March 2012
The economy is on track for a bounceback in the current quarter after the building industry's strongest growth for almost a year in February.
The latest Chartered Institute of Purchasing & Supply/Markit activity index, where a score over 50 signals growth, hit an 11-month high of 54.3 last month, led by a revival in commercial building.
Construction firms surprisingly escaped the impact of the oil price hikes which hit manufacturers in February, although the industry is still shedding jobs.
Markit's Sarah Bingham said: "The sharp increase in new business received should keep firms busy in the coming months."
The economy shrank 0.2 per cent in the final three months of 2011, but the momentum in the building industry should contribute to overall growth, according to Howard Archer at IHS Global Insight.
- 1 What happens to your body when you give up sugar?
- 2 Have sex with your iPad thanks to the new sex toy no-one asked for
- 3 The 'sex selfie stick' lets you FaceTime the inside of a vagina
- 4 Why you're almost certainly more like your father than your mother
- 5 Westboro Baptist Church couldn't picket Leonard Nimoy's funeral because they didn't know where it was
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
iJobs Money & Business
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...