UK builders stuck in the slow lane
Friday 03 February 2012
Britain's builders were stuck in first gear in January, as the industry's growth slowed to a crawl, the Chartered Institute of Purchasing and Supply (Cips) said yesterday.
Housebuilding and civil engineering output shrank, while jobs growth also stagnated, Cips said. Its activity index, where a score over 50 means expansion, slowed from 53.2 to 51.4 – signalling the most disappointing growth since last autumn.
The survey was something of a curate's egg as it surprisingly showed building firm bosses at their most optimistic for eight months.
But David Noble, Cips chief executive, said: "This confidence bodes well for the year ahead, although this visibility over potential new business will need to convert quickly into tangible work if employment levels are to improve."
Construction is lagging behind more buoyant manufacturing growth, but the clearest signs of the UK's economic health will come from its January snapshot of services firms. The sector accounts for three-quarters of the economy and a weak performance here is likely to persuade the Bank of England's rate-setters to launch an even bigger dose of quantitative easing next week.
- 3 The enemy within: People who hear voices in their heads are being encouraged to talk back
- 4 Phil Neville backtracks on Tomas Rosicky 'I'd smash him' comments from Match of the Day 2
- 5 SAG Awards: Fake applause track interrupts Reese Witherspoon
Rowan Atkinson to sell £10 million McLaren 'supercar' he crashed into a tree and a lamppost
Paris attacks: Do not call Charlie Hebdo killers 'terrorists', BBC says
Asteroid narrowly scrapes past Earth: how to watch the closest space rock for decades as it flies by
UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
British Muslim school children suffering a backlash of abuse following Paris attacks
iJobs Money & Business
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
£25 - 28k + Bonus: Guru Careers: An In-house / Internal Recruiter is needed to...
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...