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Building growth in United Kingdom hits a 22 month low

By John-Paul Ford Rojas

Published 06/05/2015

Much of the slowdown in construction appears to have been caused by pre-election jitters
Much of the slowdown in construction appears to have been caused by pre-election jitters

The UK construction industry grew at its weakest pace for nearly two years in April, further denting hopes of a pick-up in the pace of the wider recovery after a slow start to the year.

The sector posted a reading of 54.2 on the CIPS/Markit purchasing managers' index (PMI) survey - where 50 separates growth from contraction. It was the lowest level since June 2013.

Much of the slowdown appears to have been caused by pre-election jitters. The construction figures showed that despite the growth slowdown, job creation remained "robust" with confidence above average, though lower than in March.

Markit chief economist Chris Williamson said: "Together with a steep slowdown in manufacturing and disappointing GDP data, the construction survey adds to evidence that the UK economy has hit a soft patch. However, the construction slowdown may prove temporary, having been at least in part due to uncertainty."

Belfast Telegraph

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