BRITISH CONSTRUCTION GROWTH STILL “STRONG” DESPITE BAD WEATHER CONDITIONS LAST MONTH

According to the Purchasing Managers’ Index (PMI) construction continued its strong recent run, but eased back to 62.last month after jumping to 64.6 in January from 62.2 in December (above 50 is growth). Commercial activity was still at a robust level despite also easing back from January’s highest level since 2007. However, output rose for the 10th consecutive month and new orders continued to grow, also for the 10th successive month. Chief British economist with IHS Global Insight, Howard Archer, said: “The survey points to the construction sector sustaining very strong activity in February, although there was some hit to house building, in particular, and commercial activity coming from the very wet weather and flooding.” He continued: “This was partly offset by increased civil engineering and infrastructure work related to tackling the flood damage.” Archer added: “This is still a very strong survey” even if activity had not been affected at all by the wet weather and flooding. “Indeed, construction activity was still reported to be at one of its highest levels since 2007 with incoming new business still at elevated levels despite reports that the unusually wet weather had some disruptive impact on sales during February. Business expectations are also strong.”