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UK construction growth slows
Output in the UK's construction sector grew by a its smallest since October last year last month, figures published today show.
The Markit/CIPS Construction Purchasing Managers' Index fell to 59.4, from 61.4 in October – although it still remained way above the 50 mark which denotes contraction.
Analysts suggested the contraction was down to weaker figures from the civil engineering sector, although house building still remained strong.
Yesterday the government pledged £15bn to revitalise the nation's road, suggesting growth in the sector will begin to rise again.
Markit senior economist Tim Moore hinted that confidence in the sector remains strong.
Looking ahead, construction firms are optimistic overall about their growth prospects for the next 12 months, reflecting strong confidence that positive spending patterns will continue. However, some construction companies noted that uncertainties ahead of next year's general election had weighed on business confidence and influenced clients' willingness to commit to new projects.