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