Growth returns after six months in doldrums
Wednesday 05 June 2013
George Osborne's efforts to fire up the housing market have pushed builders back into growth for the first time in six months, a survey showed yesterday.
The activity index from the Chartered Institute of Purchasing & Supply (Cips) signalled the construction industry's first expansion since last October as housebuilding work roared ahead at the fastest pace for more than two years.
The Chancellor's Help to Buy package of equity loans and mortgage guarantees has proved controversial amid worries that it might fuel a new housing bubble. But the survey findings at least hint that housebuilders are gearing up to increase the supply of homes.
David Noble, the chief executive of Cips, said the scheme had "given months of lacklustre growth a shot in the arm".
He added: "The construction sector seems to have turned a corner after six dismal months."
But the good news was confined to the housebuilders as commercial building and civil engineering remained in the doldrums. Rising confidence over prospects is also yet to translate into new jobs.
International Women's Day 2014: The shocking statistics that show why it is still so important
Singapore sting: Sky-high prices are pushing locals to the edge of affordability
International Women’s Day: 'When a man gives his opinion, he's a man. When a woman gives her opinion, she's a bitch' - feminist quotes from female icons to inspire you
International Women's Day 2014: Cherie Blair - ‘Today is a chance to see how far we still have to go’
Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
White people become less racist just by moving to more diverse areas, study finds
Exclusive: Impact of immigrants on British workers ‘negligible’
- 1 International Women's Day 2014: The shocking statistics that show why it is still so important
- 2 Orgasm machine to deliver climax at the push of a button
- 3 Singapore sting: Sky-high prices are pushing locals to the edge of affordability
- 4 Liam Neeson turned down James Bond role because late wife Natasha Richardson said she wouldn't marry him if he took it
- 5 Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
iJobs Money & Business
£12000 per annum: Inspiring Interns: The company works with Tier 1 FTSE 100 Ba...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...
£30000 - £35000 per annum + generous benefits: Pro-Recruitment Group: Mixed Ta...