The UK Markit/CIPS Purchasing Managers’ Index® (PMI®) for the construction sector remains below the 50 no change mark.
the fastest drop in housing activity was recorded last month with the second-sharpest fall in new business since April 2009. PMI posted at 49.5, up slightly from previous month's 49.0.
Commenting on the report, David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply, said:
“September’s figures show the construction sector’s cupboard to be well and truly bare, rounding off a disastrous quarter. After the longest continual decline in new orders for three years, this is of no surprise.
“Looking ahead, there is little to be positive about. Homebuilding continues to be hit hard, the commercial sector, so long the star of the industry, has lost its sparkle. That civil engineering has seen a moderate increase in activity, is scant consolation.
“This continued poor performance has been compounded by an increase in input prices reflecting rising cost pressures across the global economy. All of this, points to an ominous future. In the absence of investment of some kind, we are likely to see this level of activity continue for some time, or possibly even drop further.”
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