Construction boom cools in July
28 August 2012
UK builders blamed delays between finishing current projects and starting new work for July’s slower growth in the construction industry, according to the latest purchasing managers’ index (PMI).
The PMI – a composite indicator of overall sector conditions – was 54.2, well above the 50 figure that indicates no change on the previous month. The new orders index was a healthy 58.1.
Although the housing and commercial activity indices were still high, at 56.2 and 56 respectively, they both fell on the month before. Civil engineering activity fell for the...