Construction sector continues to decline
Construction
5th October 2009
The construction sector witnessed a further decline in activity between August and September this year, new figures have revealed.
According to the Chartered Institute of Purchasing & Supply (Cips)/Markit Purchasing Managers' Index, movement in the building industry dipped from 47.7 in August to 46.6 in September.
However, the rate of contraction has slowed in recent months and confidence "remains generally high", the organisation claimed, with a slight increase in housing sub-sector activity during the period in question for the first time in 22 months.
Commenting on the report, Cips chief executive David Noble stated that the sector is still "heavily impacted by the recession", but is starting to show signs of stabilising.
Something which may also interest liability insurance customers is a new report by the Construction Products Association forecasting that the construction industry will start to see workloads improve in 2011 and 2012, while the highs witnessed in 2007 will not be revisited until 2021.
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