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Construction activity increases
Activity in the construction sector expanded for the second month in succession, according to data released by the Chartered Institute of Purchasing and Supply (CIPS) and Markit purchasing managers' index.
The index showed a sharp jump to 58.2 in April from 53.1 the previous month, well above the 50 level that separates growth from contraction.
The expansion was supported by a further rise in incoming new business. New order volumes increased at the fastest rate since October 2007, with increased tender wins and improved client confidence driving growth.
"The sector still faces a very challenging environment and it is likely to be hit significantly by the next government's need to rein in its spending for an extended period," said IHS Global Insight's Howard Archer.
Post Date: May 6th, 2010
The index showed a sharp jump to 58.2 in April from 53.1 the previous month, well above the 50 level that separates growth from contraction.
The expansion was supported by a further rise in incoming new business. New order volumes increased at the fastest rate since October 2007, with increased tender wins and improved client confidence driving growth.
"The sector still faces a very challenging environment and it is likely to be hit significantly by the next government's need to rein in its spending for an extended period," said IHS Global Insight's Howard Archer.
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Post Date: May 6th, 2010
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