–Mar CIPS Construction Index 56.4 Versus 56.5 In Feb
LONDON (MNI) – The UK construction sector last month maintained
activity growth at around the 8-month high seen in February, the
Markit/CIPS construction industry survey found.
The headline construction index slipped only slightly to 56.4 from
56.5 in February, remaining firmly in expansionary territory.
But the survey found evidence of mounting inflation pressure, with
input costs rising at their fastest rate since August 2008.
The input price index rose to 75.8 in March, up from 73.4 in
February and 67.6 in January.
Higher raw material prices were cited as the main contributor to
the latest rise in input costs, with increased prices of fuel, oil and
steel particularly noted.
The seasonally adjusted Employment Index posted fractionally below
the 50.0 no change threshold in March, signalling a negligible reduction
of staffing levels within the UK construction sector, CIPS/Markit said.
The latest decrease in staffing levels was the weakest in the
current nine-month sequence of job cuts.
Panellists in the UK construction sector remained optimistic
regarding future business expectations in March, CIPS/Markit said.
“However, the degree of positive sentiment eased for a second
successive month and was notably weak in the context of historical data.
Anecdotal evidence suggested that concerns over public spending cuts
continued to hamper confidence,” it added.
–London newsroom: +44 207 862 7492; email:ukeditorial@marketnews.com
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