LONDON: UK construction activity declined at a weaker pace at the start of 2010. The seasonally adjusted CIPS/Markit Construction Purchasing Managers' Index...
posted 48.6 during January, up from 47.1 in the previous month.
The number signalled the smallest fall in activity during the current 23-month period of contraction. Lower activity generally reflected a further modest reduction in new orders and adverse weather conditions during the latest survey period, the survey said.
"As has been the case throughout the past five months, housebuilding was the only one of the three broad areas of construction activity monitored by the survey to record growth in January. However, the rate of expansion eased sharply from December's strong pace. Continued declines in commercial and civil engineering activity were signalled, although in both cases the rates of decline eased", said the report.
"The quantity of building materials purchased by UK constructors fell for a 23rd successive month in January. Furthermore, the latest drop was the sharpest since last May. Anecdotal evidence suggested that many firms had opted to deplete their existing inventories before ordering new stock", the report concluded.
