Expansion rate in UK construction industry slows
29 August 2012
The construction industry’s rate of expansion slowed down in October to its slowest pace in five months, according to the latest CIPS Purchasing Managers’ Index report.
The index, designed to measure the overall health of the construction economy, revealed a fall in total construction activity to 53.9 in October, compared to 57.2 in September and 57.4 in August.
Although growth was solid - an index above 50 indicates progression - the slowdown in activity was caused by a weakening in the rate of increase of new orders,...