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5 Jan 2015
UK Construction activity in December expands at a slowest rate since July 2013.
FXStreet (Mumbai) - The UK Markit Purchasing Manager’s Index (PMI) for Construction activity in December came-in at 57.6, missing the estimate of 59.0, and down from the November’s 59.4.
The construction activity expanded in December at the slowest rate since July 2013. The House building activity and Commercial construction expanded, while the civil engineering activity decreased slightly, thereby ending a 17-month period of continuous expansion. Overall, the outlook for construction activity is still positive, with 52% of respondents expecting a rise in business activity in 2015.
As per Tim Moore, Senior Economist at Markit and the author of the Markit/CIPS Construction PMI, “The sector is still expanding with the index posting at a higher level than the longer-term average, and led primarily by residential development - but it has become a victim of its own success as it struggles to keep up with its own speed of recovery. With increases in new business, comes pressures on the availability of talented staff and a squeeze on the performance of supply chains.”
The construction activity expanded in December at the slowest rate since July 2013. The House building activity and Commercial construction expanded, while the civil engineering activity decreased slightly, thereby ending a 17-month period of continuous expansion. Overall, the outlook for construction activity is still positive, with 52% of respondents expecting a rise in business activity in 2015.
As per Tim Moore, Senior Economist at Markit and the author of the Markit/CIPS Construction PMI, “The sector is still expanding with the index posting at a higher level than the longer-term average, and led primarily by residential development - but it has become a victim of its own success as it struggles to keep up with its own speed of recovery. With increases in new business, comes pressures on the availability of talented staff and a squeeze on the performance of supply chains.”