Tuesday, February 3, 2015

UK Constructions Expands in January But Hiring Still Weak

Britain’s builders enjoyed a rebound in business growth last month but have gone into the new year in a cautious mood amid signs of an economic slowdown.

After expansion in the construction sector hit a 17-month low in December, it enjoyed faster growth in January in all three areas – homebuilding, civil engineering and commercial construction – according to the latest Markit/CIPS UK Construction PMI survey.

But the report showed that growth was less strong than the average for last year and hiring slowed to its weakest pace for more than a year as worries about the outlook intensified.

Construction firms also reported continuing challenges in getting the materials they need as suppliers adjust to a revival in demand since the industry’s sharp recession. Skilled workers were also hard to come by, sending subcontractor charges rising at a near record pace, the survey said.

via The Guardian

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