CIPS News


Construction PMI weaker than expected.

CIPS 6 May 2011

Construction PMI reports slowdown in the sector.

Markit/CIPS Purchasing Managers’ Index® (PMI®) reading of 53.3 signaled a marked slowing of the construction sector.

Total new orders grew albeit at a slower rate however job shedding continued.

David Noble, CEO of CIPS said, “Low activity levels in the housing market, tighter government purse strings, rising input prices in fuel and materials and in some cases poor cash flow are clearly a worry and confidence amongst UK constructors remains at a historically low level as the number of jobs continues to drop. However, business sentiment improved slightly compared to March. This partly reflects expectations that growth in the wider UK economy will help support construction activity going forward.”

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