3 January 2001, 12:50  Expansion of the UK construction industry accelerated in December

LONDON (MktNews) - Expansion of the UK construction industry accelerated in December and optimism over prospects for the next twelve months reached its highest level since June 1999, according to a survey published Wednesday by the Chartered Institute of Purchasing and Supply and BuildOnline. The survey's seasonally adjusted index for overall activity in the construction sector posted 55.5 in December, after 54.3 in November. Roy Ayliffe, director of professional practice at CIPS, commented "Purchasing managers had to raise their levels of activity in December in order to meet rising levels of new orders. Optimism is high as current levels are expected to continue throughout 2001." Order books grew strongly with the pace of growth reaching its highest level since July. The index rose to 61.0 in December compared with 59.3 in November. Firms believed this was due to the general buoyancy of the construction sector, with orders particularly strong from the telecommunications, utilities and health sectors. Price pressures remained strong but weakened slightly from November. The prices index posted 63.9 in December, after 65.9 in November and the lowest level since June. Firms cited the high price of oil and widespread shortages of raw materials. Employment continued to rise in December, in line with increased activity levels. The index rose to 55.5 from 55.2 in November.

© 1999-2024 Forex EuroClub
All rights reserved