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Construction sector shows signs of stability

03/03/2010 14:04:41

Construction firms still face a tough trading environment but things may be improving according to a new survey.

Britain's construction firms are still having a tough time as a result of the wider economic conditions, but there were some reasons to be positive this week.

An influential survey suggested that the contraction the construction sector has been experiencing has begun to level off.

The Chartered Institute of Purchase and Supply / Markit PMI index showed British construction remained in negative territory last month.

Any score below 50 means contraction rather than growth. While February's figure of 48.5 was slightly lower than January's 48.6 it was still the second highest for more than two years.

The very small change suggests that the difficult situation construction firms have been facing may have reached a plateau.

Recently, leading figures from the construction sector have been urging the country's politicians not to cut public spending too early.

Sorting out Britain's huge deficit will be a priority for whichever party wins this year's general election, but the construction industry is keen for any cuts not to threaten Britain's return to economic growth.

Posted by Rachel King
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