Builders’ gloom deepens
UK BUILDerS are grappling with the longest stretch of falling orders in six years as they are hit by political uncertainty.
The volume of new work fell in November for the eighth month in a row, according to the latest Markit/CIPS UK construction purchasing managers’ index. Its reading of 45.3 was up from 44.2 in October, but a figure below 50 represents decline. It follows manufacturing surveys also showing a deepening downturn.
Howard Archer, adviser to the eY Item Club, said: ‘For the economy to grow at all over the fourth quarter, it is likely to need consumers – the most resilient sector of the economy – to spend a decent amount over Christmas and its run-up.’