UK construction 'slows'
Two weak reports on the construction sector have been released.
The Office for National Statistics says the volume of new construction orders in Britain slumped to its lowest level since 1980 during the second quarter of this year.
Similarly, a Markit/CIPS survey shows 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.
Chris Williamson, chief economist with Markit, says that when big civil construction projects like Cross Rail and the Olympic Park are completed, the industry will face even more problems.
02 Sep 2011