UK construction weakest since 2001
Activity in the British construction industry slumped to a four year low in January, dragged lower by a weak civil engineering market.
The Chartered Institute for Purchasing and Supply said its construction index fell to 50.7 in January from 52.6 the month before. The reading is the lowest since November 2001 and marks the fourth consecutive month of contraction.
New orders were also at a four-year low at 52.2 while confidence about future activity also slipped to 74.6 from 75.1 in December.
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Roy Ayliffe, CIPS director of professional practice, said, "Following a period of healthy growth last year, 2006 has got off to a slow start for the construction industry with only marginal growth in the first month."
"January showed no signs of an upturn in the declining housing sector and civil engineering continues to be the worst performing sub-sector, though activity in the commercial sector has increased," added Aycliffe.
