Belfast Telegraph

Saturday 1 August 2015

New figures spark fears of recession

By John Collingridge

Published 04/04/2013 | 04:20

The UK's hopes of recovery have been dealt another blow after figures showed construction output shrank in March for the fifth month in a row.

Heavy snowfall and flagging demand hit activity in the construction sector last month, heightening fears the UK is heading for a triple-dip recession.

The latest Markit/CIPS purchasing managers index (PMI) recorded a reading of 47.2 last month for construction output – below the 50 mark which separates contraction from expansion.

Economists said hopes of avoiding another recession are pinned on Britain's services sector.

While March construction output was an improvement on February's 40-month low of 46.8, it remains much weaker than the average reading of 54.

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Read More

From Belfast Telegraph