Construction expansion eases in November

Construction activity continued to expand strongly during November, although its pace slowed to a 13-month low.

The Markit/Chartered Institute of Procurement and Supply Purchasing Managers' Index dipped to 59.4 last month, from 61.4 in October. It has now been over the 50.0 no-change threshold for 19 consecutive months and remains well above the long-run survey average of 54.5.

Residential construction was the strongest-performing area in November, while civil engineering  activity was the weakest since July 2013.

New business volumes continued to rise, albeit at their slowest rates since June 2013. This was attributed to a drop in client confidence due to strong competition for new work and greater uncertainty about the economic outlook.

There was good news on the employment front, as job creation was up on the previous month's figure and closed in on July's survey-record high.

Confidence levels in the sector remain high, with many firms saying they are highly optimistic about the prospects for output growth in the months ahead.

Article Posted by Editorial Team. All news articles are provided by journalists from an independent News Agency - Axonn Ltd.