Summary
Fears about the health of the UK's economy were fanned yesterday after two key surveys revealed a worrying slowdown in the construction industry. New orders fell by 16.3 per cent in the second quarter of this year to their lowest level since 1980, the Office for National Statistics revealed. And the sector grew in August at its slowest pace this year as the housing sector continued to contract and confidence hit its lowest level for seven months, according to a Markit/CIPS survey.
The surveys suggest the sector, which has seen growth in recent months, could be running out of momentum and will add to fears the UK's economy is in danger of slipping back into recession. The gloomy surveys suggest the sector, which grew 0.5 per cent in the second quarter of the year, is being dragged downwards as confidence is eroded amid the Government spending cuts and the general global economic slowdown.See the full content of this document
Extract
Fresh Fears As New Housing Orders Slump
The manufacturing sector is also suffering a slowdown, according to recent figures, while ...
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