–Adds ONS Construction New Orders Data To 0941 GMT Version
LONDON (MNI) – The UK construction sector saw activity rise sharply
in February, with the Markit/CIPS construction headline February
activity index spiking to 54.3 from 51.4.
The data, released by Reuters, show construction activity
accelerating with the sector seeing its 14th consecutive monthly
expansion. Employment in the construction sector, however, declined
despite growth in new business and output.
The 54.3 outturn was the highest since March 2011 and new business
growth was the fastest in 21 months. While employment fell, which Markit
reported was due to reorganisations in some companies, the decline was
only marginal.
The construction data are the second installment of the CIPS/Markit
February UK trilogy.
The first of the trilogy, manufacturing, came in at 51.2, down from
52.0 in January, with pace of expansion easing. The manufacturing survey
also found a marked rise in pipeline inflation, with input costs seeing
the second sharpest month-on-month rise in the survey’s history.
On Friday the Office for National Statistics also published data
for new construction orders, which highlighted the decline in orders in
2011.
The ONS figures showed a 2.5% quarterly fall in new orders in the
fourth quarter, with a very sharp rise, of 41.6%, in infrastructure
orders offset by a 26.6% fall in public housing orders.
The total volume of all new construction orders in 2011 was 14.1%
per cent lower than 2010, National Statistics said.
–London newsroom: +44 207 862 7491; email:drobinson@marketnews.com
[TOPICS: MABDS$,M$B$$$]
