UK Constructions Expands in January But Hiring Still Weak

Britain’s builders enjoyed a rebound in business growth last month but have gone into the new year in a cautious mood amid signs of an economic slowdown.

After expansion in the construction sector hit a 17-month low in December, it enjoyed faster growth in January in all three areas – homebuilding, civil engineering and commercial construction – according to the latest Markit/CIPS UK Construction PMI survey.

But the report showed that growth was less strong than the average for last year and hiring slowed to its weakest pace for more than a year as worries about the outlook intensified.

Construction firms also reported continuing challenges in getting the materials they need as suppliers adjust to a revival in demand since the industry’s sharp recession. Skilled workers were also hard to come by, sending subcontractor charges rising at a near record pace, the survey said.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza