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Construction sector suffers 'setback' as growth stalls - healthyfrog

Construction sector suffers ‘setback’ as growth stalls

Construction sector suffers ‘setback’ as growth stalled in August

The construction sector suffered a ‘setback’ as growth stalled in August. 

The industry saw growth slow down last month as firms warned of a lack of work. 

The IHS Markit/CIPS construction purchasing managers’ index (PMI) hit a reading of 54.6 last month, compared to 58.1 in July. 

‘Setback’: The industry saw growth slow down last month as firms warned of a lack of work

Any reading above 50 represents an expansion in business activity. 

Tim Moore at IHS Markit said the speed of recovery lost momentum for the first time since the reopening phase began in May.