News Construction Growth Slowed End 2014

Growth in the UK construction sector slowed further in December to its weakest pace in 17 months as the rate of expansion of housebuilding activity eased, a survey has shown.

The Chartered Institute of Purchasing and Supply’s purchasing managers’ index for construction fell from 59.4 in November to 57.6 in December.

The pace of expansion in the housebuilding sub-sector slowed to its least-marked pace since June 2013. However, it remained strong by historical standards. And CIPS noted that UK construction firms had recorded the strongest calendar year of residential building since the survey began in 1997.

Tim Moore, senior economist at Markit and author of the construction survey, said:”UK construction output growth retreated further in December, but another strong expansion of housebuilding activity ensured that the sector continued to perform impressively overall.

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