UK Construction Firms Facing Big Challenges

Growth across Britain’s construction industry picked up slightly in February, driven by the civil engineering sector, though a slowdown in new orders and soaring costs added to mixed signals for the economy, a survey showed on Thursday.

The Markit/CIPS Construction Purchasing Managers’ Index (PMI) edged up to 52.5 from 52.2 in January, above forecasts in a Reuters poll that had pointed to an unchanged reading.

Growth in housebuilding cooled to a six-month low and commercial construction contracted for the first time in four months, but this was outweighed by an improvement for civil engineering firms.

Reuters

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MS

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.