–July CIPS Construction Index 53.5 Vs 53.6 In June
LONDON (MNI) – The UK construction industry saw solid growth in
July, according to the latest CIPS/Markit survey.
The July CIPS construction index came in at 53.5, little changed
from the 53.6 seen in June.
“July PMI data signalled that the UK construction sector entered
the second half of the year in much the same way as the first half was
concluded. Rates of growth for both new orders and activity were solid,
but remained below long-run trends” Sarah Bingham, economist at Markit
said.
But the data showed employment in the construction sector falling
for the second consecutive month.
David Noble, CEO at CIPS, said “firms are purchasing only to meet
current requirements and remain cautious about replacing leaving staff,
as the general mood remains uncertain.”
The relatively buoyant CIPS construction data are in marked
contrast to Monday’s July CIPS manufacturing numbers, which showed that
sector contracting.
The latest official construction data have been extremely volatile,
leading analysts and policymakers to question the reliability of the
figures.
National Statistics data showed construction output in the second
quarter was up 0.5% on the quarter following a 3.4% fall in Q1.
–London newsroom: +44 207 862 7491; email: drobinson@marketnews.com
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