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Activity falls slow in construction sector
Activity in the construction sector declined at the slowest rate for almost two years, a new report has shown.
Figures from the latest purchasing managers index (PMI), from the Chartered Institute of Purchasing and Supply (CIPS), have revealed that activity between December 2009 and January 2010 declined at the slowest rate during the last 23 months of contraction.
The CIPS index increased from 47.1 in December last year to 48.6 last month.
Scores below 50 still denote a decline in activity, but the CIPS said this was the slowest rate recorded for some time.
David Noble, the organisation's Chief Executive Officer, said: "Construction continues to be the worst performing sector of the UK economy – struggling in the face of credit supply shortages and overall economic uncertainty."
The CIPS report also revealed that activity in the civil and commercial engineering sectors had continued to decline.
However, there has been some cause for optimism in the construction industry recently.
The latest Report on Jobs from the Recruitment and Employment Confederation and accountancy firm KPMG revealed that demand for constructions and engineering workers has increased over the last 12 months.
According to the report, the demand index for permanent staff in the sectors had increased from 26.4 to 59.8 in the 12 months to January.
Temporary workers were also found to be in demand, with the index rising from 26.4 to 54 over the same period.
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