UK construction order decline lowest for four years21 December 2012
Business conditions in the UK construction sector deteriorated during November, with output falling for the third time in the previous four months amid the steepest new orders decline for just over three-and-a-half years are the findings of the Market/CIPS UK Construction Purchasing Managers’ Index (PMI).
A lack of new business to replace completed contracts in turn contributed to a marked drop in confidence regarding the outlook for the next 12 months.
Latest data pointed to the weakest degree of positive sentiment since the near record low seen in December 2008.
As a result, jobs were cut again in November and at the fastest pace for almost two years.