The pain is not yet over for Britain's builders
It has suffered grievously from the collapse of the housing boom and the recession more generally, but the pain for Britain's building trade is seemingly not over yet: employment in construction declined for its 18th consecutive month.
The latest poll of confidence in the sector by the Chartered Institute of Purchasing & Supply and Markit suggests that construction activity contracted for the 21st successive month in November, although the pace of decline eased and there was a more hopeful trend in new orders.
Unlike the manufacturing and serve sectors, the Cips Construction Index remains rooted below the 50 level – a reading of above 50 indicates future expansion. The index rose to 47 in November, its highest since August, from 46.2 in October.
The recent stabilisation in house prices sees to have yielded some benefits, but commercial and civil engineering contractors report declines.
David Noble, the chief executive of the Chartered Institute of Purchasing & Supply, said: "There is little festive cheer for the UK construction industry which remains very vulnerable. A broader economic recovery will improve the sector's outlook. However, it appears we are still some way off from returning to growth, let alone reaching the level it was at only two years ago."
Howard Archer, the chief economist at Global Insight, added: "Over the long term, the construction sector will be hit by the Government's need to rein in its spending for an extended period as this is bound to hit expenditure on infrastructure and public buildings."
Presents unwrapped, turkey gobbled... it's time to relax
- 1 Shia LaBeouf claims he was raped during #IAMSORRY art installation performance
- 2 This letter from a reader explains why women can’t play football
- 3 'You should come to my house and eat cheeses with me': 4-year-old sends adorable love letter to girl at school
- 4 Scientists predict green energy revolution after incredible new graphene discoveries
- 5 Michael Buerk wishes he killed Jimmy Savile when he had the chance - by pushing him overboard a cruise ship
Sean Abbott: Messages of support flood in for bowler after death of Phil Hughes
Plebgate: Andrew Mitchell’s reputation in tatters as judge rules he used the word ‘pleb’
Dr Lam Hoe Yeoh: Voyeur doctor jailed for eight years after using network of hidden cameras to film patients, colleagues and friends on the toilet
Kim Jong-un 'in dire need of allies' within his own government as younger sister appointed to senior role
Scientists predict green energy revolution after incredible new graphene discoveries
Obama: The only people with the right to object to immigration are Native Americans
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
Ukip mocked after mistaking Westminster Cathedral – for a mosque
Sarah Vine criticises lesbian mother Jack Monroe: 'If she was unsure about her sexuality, she should have taken greater precautions'
iJobs Money & Business
£Attractive Package: Citifocus Ltd: Prestigious asset management house seeks a...
£Negotiable: Citifocus Ltd: This is a varied role focusing on the firm's mutua...
£90000 - £140000 per annum + benefits: h2 Recruit Ltd: Are you a high achievin...
£25000 - £37000 per annum + benefits: h2 Recruit Ltd: Are you seeking to furth...