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Builders more optimistic, PMI reveals
03/12/10
Edited by Tom Bardsley.Builders are showing an increasingly positive attitude towards the outlook of the construction sector, new data has suggested.
The Chartered Institute of Purchasing and Supply (CIPS) and Markit Purchasing Managers' Index for November revealed continued growth in the industry, registering a score of 51.8, compared with 51.6 in the previous month.
Any figure over the neutral 50 level signifies expansion and while the organisations admitted the situation remained subdued, they claimed businesses are at the most optimistic they have been in five months.
Economist at Markit Sarah Ledger said expectations for building activity over the next 12 months is better than previously recorded.
However, she admitted the "PMI data signalled that operating conditions remained challenging", with new contract wins being undermined by a number of clients deferring projects.
The Royal Institution of Chartered Surveyors echoed these comments, adding that while the industry continued to show modest growth, it may be difficult to maintain workloads through 2011.
