Election 2015: Poll nerves send builders to lowest ebb in two yearsComments Off on Election 2015: Poll nerves send builders to lowest ebb in two years
The Markit/Chartered Institute of Procurement & Supply snapshot of industry fortunes, where a score over 50 signals growth, slowed to 54.7 from 57.8 last month.
That represents the weakest overall growth for almost two years as civil engineers, commercial builders and, to a lesser extent, housebuilders felt the squeeze.
Growth in new orders dipped while confidence is down from March’s nine-year high, echoing the weakness seen by UK manufacturers during April.
Markit’s senior economist Tim Moore said: “The uncertain general election outcome appears to have put some grit in the wheels of decision making.
“Construction firms widely noted delays with clients’ budget setting and a reduced propensity to commit to new projects.”
Cips chief executive David Noble added: “This deceleration has been attributed to project delays and hesitancy as the country prepares to vote.”