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."
Katie Hopkins continues campaign to become Britain's most hated talking head with poorly timed Bob Crow tweet
No EU referendum under Labour: Ed Miliband to reveal that vote on membership is ‘unlikely’ in next Parliament if party wins power
Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
The quiet diplomat: Catherine Ashton - recognised and admired in all the world’s troubled countries, yet ridiculed at home
Fracking is turning the US into a bigger oil producer than Saudi Arabia
- 1 Fracking is turning the US into a bigger oil producer than Saudi Arabia
- 3 First Kiss video: Filmmaker gets 20 strangers to make out on YouTube with awkward results
- 4 Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
- 5 Rampaging elephant smashes up house but then 'saves crying baby trapped under debris'
iJobs Money & Business
£45000 - £55000 per annum + Bonus and Benefits: Harrington Starr: One of the i...
£57000 - £77000 per annum + Benefits: Pro-Recruitment Group: Top 10 Specialist...
£350 - £450 per day: Harrington Starr: Harrington Starr are currently working ...
£40000 - £60000 per annum: Harrington Starr: Application Support - FIX protoco...