Building sector returns to growth

First published in News

The construction sector returned to growth last month, a survey said today, although housebuilders and commercial developers continue to weigh heavily on the industry.

The Markit/CIPS survey, where a reading above 50 represents growth, showed overall activity in the sector rose to 50.5 in October from 49.5 the previous month.

The rise was driven by moderate growth in the civil engineering sector for the second month running as residential building activity declined for the fifth month in a row. Commercial activity also dropped in October, but at only a marginal pace.

David Noble, chief executive at the Chartered Institute of Purchasing & Supply (CIPS), said the nation's builders are heading into a "long, dark winter’’.

He said: "Despite marginal growth in October, the prospects for the construction sector are bleak as firms prepare for the worst.’’

The October headline reading was much weaker than the average - 56.3 - seen in the decade leading up to the global financial crisis in 2008, highlighting an ongoing subdued trend in output across the sector.

Comments (1)

Please log in to enable comment sorting

9:51am Sat 3 Nov 12

GwentVoice says...

Does this mean the building sector is being rebuilt brick by brick :-)
Does this mean the building sector is being rebuilt brick by brick :-) GwentVoice
  • Score: 0

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree