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UK construction output growth slows in July
July data signalled a slight overall loss of momentum across the UK construction sector, with business activity and incoming new work both expanding at slower rates than in the previous month. The pace of job creation at construction companies nonetheless remained strong in July, while ongoing skill shortages across the sector contributed to a further steep reduction in subcontractor availability. Moreover, sub-contractor charges once again rose at one of the fastest rates since the survey began in 1997. At 57.1 in July, the headline seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index® ... (full story)
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