Housebuilding grows despite commercial activity declining

Building Magazine Article: Modest growth in UK housebuilding failed to compensate for further falls in commercial and civil engineering activity last month, according to the latest IHS Markit/CIPS Construction survey.

Commercial construction work fell to its lowest point for a year in March, with clients being put off from investing by concerns around the health of the UK economy and concerns about Brexit, IHS Markit said.

Civil engineering activity also fell last month, although the decline slowed from what had been a particularly poor February.

While the housebuilding sector delivered what IHS Markit described as a “modest” upturn last month it was also the strongest seen this year.

New work rose marginally, Markit said, although expansion “remaining subdued” amid intense competition for business and a reluctance among clients to commit to major spending decisions.

Read the full article on Building Magazine, published 2nd April here.

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