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Slowing construction growth reported

Construction activity was up in January according to the latest figures from the Chartered Institute of Purchasing and Supply.

The organisation’s monthly Purchasing Managers Index recorded growing activity in commercial construction and civil engineering masking a second monthly fall in housing. But the overall rate of this growth slowed to its weakest since September 2006.

Employment and orders also both grew in the first month of the year, but again the rate of this growth slowed compared to previous months.

Overall expectations of the future remained positive, although this good feeling was at a lower level than it has been at any point since December 1998. CIPS attributed this to growing fears about both weak economic conditions and concern about the housing market.