The UK Markit/CIPS Purchasing Managers’ Index® (PMI®) for the construction industry showed continuig falls in new work, though output showed a small rise.
Posting at 50.9, up from last month's 49.5, employment levels were at their most reduced levels since August 2011.
David Noble, CIPS CEO said: “Despite marginal growth in October, the prospects for the construction sector are bleak as firms prepare for the worst. They are heading into a long, dark winter, by shedding jobs and laying off subcontractors in response to the longest decline in new business since the start of the financial crisis in 2008/2009.
“There is contagion right along the supply chain with rising fuel and energy costs and lengthening delivery times ensuring that there is little hope of respite in the immediate future, compounding the imminent threat of budget cuts in 2013.
“If there is any silver lining to the dark cloud which hangs over the industry, it is that there is at least one part of the industry, civil engineering, which remains in growth territory. But this is scant consolation given the continued decline of the housing and commercial sectors.”
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