UK construction jobs lost at record rate
Thursday 02 April 2009
The Chartered Institute of Purchasing and Supply/Markit construction PMI index nudged up to 30.9 in March, compared to February's series low of 27.8 in February.
CIPS Director Roy Ayliffe said "unremitting global forces continued to batter the UK construction sector".
"Inevitably, extremely weak demand led to a significant loss of construction jobs," he said in a statement. "Firms not only reduced contractors' days but also cut headcount at an unprecedented pace."
The housing sector suffered the most marked contraction in output, the survey said. Civil engineering outperformed other areas of construction.
British builders reported a substantial decrease in new placed in February and noted a sharp cut in client budgets, strong competition and fewer customer inquiries.
The pain of the decline was partly alleviated by a "dramatic reduction" in input prices," Ayliffe added.
Gemma Wallace, economist at Markit Economics, said constructors were confident that operating conditions would improve in the next year.
Separate figures from the Office for National Statistics showed new orders in the construction industry fell by 9 per cent in the three months to February compared to the previous three months.
Orders in the 12 months to February fell 24 per cent compared with the previous year. Orders in the three months to February dropped by 34 percent compared to the same period a year earlier.
- 1 Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
- 2 The secret report that helps Israelis to hide facts
- 3 Danish TV reporter is all business up top, all party down below
- 4 Ross Burden dead: MasterChef and Ready Steady Cook star, dies aged 45
- 5 Businessman charged £75 for three small bottles of water in London hotel
The secret report that helps Israelis to hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
Were 'Poor Doors' added to mixed developments so wealthy residents don't have to go in alongside social housing tenants?
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Opponents of Israel's military operation in Gaza are the real enemies of Middle Eastern peace
iJobs Money & Business
Data Governance Manager (Solvency II) – Contract – Up to £450 daily rate, 6 month (may go Permanent)
£350 - £450 Per Day: Clearwater People Solutions Ltd: We are currently looking...
£500 - £560 per day: Orgtel: Java Developer FX - Banking - London - Up to £560...
£350 - £400 per day + competitive: Orgtel: My client, a leading bank, is curre...
£26000 - £30000 per annum + Benefits: Ashdown Group: Account Manager - (Produc...