Growth of UK's construction sector falls to three-month low in December

Growth of UK's construction sector falls to three-month low in December
January 7, 2022, 6:05 pm

Construction sector/Pixabay

The Xinhua reported according to a report released Friday, Britain's construction sector expanded in December but the pace slowed to its lowest since September 2021.

For the month, the headline seasonally adjusted IHS Markit/CIPS UK Construction PMI Total Activity Index decreased from 55.5 in November to 54.3, though above the crucial 50.0 no-change threshold, according to the joint report by IHS Markit, a London-based global information provider, and the Chartered Institute of Procurement & Supply (CIPS), a Britain-based global procurement and supply organization.

The report added, some survey respondents noted that tighter COVID-19 pandemic restrictions and rising COVID-19 cases had acted as a brake on recovery, especially in the commercial sector.

CIPS Group Director Duncan Brock said: "Though the overall index moved down slightly in December there was light at the end of the tunnel for builders in terms of the strongest order numbers since August, reduced pressure on business costs and some improved delivery times for essential materials."

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Source: xinhua

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