Builders’ gloom deep­ens

Scottish Daily Mail - - City&finance -

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.’

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