Construction sector grows but housing slows again
29 August 2012
UK builders beat another fall in housing activity as the construction sector enjoyed a slight increase in business, according to May’s purchasing managers' index (PMI) report.
The total industry PMI - a composite indicator of overall sector conditions, in which 50 indicates no change on the previous month – was 54.8, a marginal rise on March.
Housebuilders blamed the second successive month of falling activity (at 48.9, down from 49.5) on slower sales and planning delays on new developments. Although the indices fell in both...