Growth in the UK building sector fell back in November after a surprise gain in October new research suggests.
The Markit/Cips Construction Purchasing Managers Index, which is based on a monthly survey of building firms, fell to 52.3, down from 53.9 in October. A value above 50 indicates growth.
November saw a rise in new contracts and the first increase in residential construction for six months.
Markit described growth as modest due to economic head-winds in the industry.
“Raw materials, energy and fuel prices continue to hinder the sector, construction companies cite these as the main contributing factors for high input prices which have increased for the 22nd month running,” said David Noble, chief executive at the Chartered Institute of
On Thursday, Markit/Cips data showed that the UK’s manufacturing sector shrank at its fastest pace in 18 months.
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