Housebuilding rebound is losing steam (From The Bolton News)

Housebuilding rebound is losing steam

4:53pm Friday 3rd September 2010 in

• Skip social links
• Print
• Email
•  

A SHARP slowdown in housebuilding sapped construction growth during August, according to an industry survey.

The Chartered Institute of Purchasing and Supply’s (CIPS) latest activity index, where a score more than 50 indicates growth, fell to 52.1 from 54.1 in July — the third monthly drop in a row.

Housebuilding saw much weaker growth than commercial construction and civil engineering, fuelling fears the sector’s strong rebound since the recession is losing steam.

Construction jobs also fell for the second successive month CIPS chief executive David Noble forecast low growth rather than a return to recession, but said: “Those looking for signs of a slowdown will find plenty to worry about.

“The most disturbing sign is the marked slowdown in the residential sector as this is where much of the recent sector growth has come from.”