UK construction contracts for the third month

UK construction contracts for the third month
Published: 05 February 2013

Tagged Under: UK Construction 

UK construction output fell for a third consecutive month in January, according to a survey from the Chartered Institute of Purchasing and Supply (CIPS).

January was the first month since last summer in which none of the three construction sub-sectors monitored by CIPS achieved growth. The civil engineering sub-sector suffering its first drop in activity since August. Housebuilding activity continued to fall, and commercial property construction stagnated in January,.

CIPS' seasonally-adjusted construction activity index stood at 48.7 in January, unchanged from December and below the level of 50 which separates expansion from contraction for a third consecutive month. While new orders in UK construction fell for an eighth consecutive month, the pace of decline slowed between December and January.