Construction Purchasing Spend Declines
According to a recent report by the CIPS/Markit index, the pace at which purchasing spend has fallen in the construction industry, has speeded up dramatically throughout October.
According to research, the sector that has been most affected is civil engineering, though as the latest figures reveal, no area of the construction industry has gone unscathed.
While residential construction did increase for the second month in a row, the accelerated decline across both civil and commercial sectors indicates that the UK’s construction industry is still firmly in the recession.
Mark James, the administrative editor of the report, comments: “While there are promising signs of recovery with the UK’s construction sector, the latest figures reveal that a return to pre-recessionary spending is still a long way away.”