Hopes of recovery as builders report a sharp rise in orders

Hopes of recovery as builders report a sharp rise in orders THE nation's builders saw new orders rise at the fastest rate in four-and-a-half years, according to a survey. 3 in February - the sharpest rate of growth since September 2007. The commercial sub-sector, which covers shop and office space, was the strongest performing, although civil engineering activity strengthened at its fastest rate in twelve months. A slight increase in residential construction was recorded. The upbeat survey comes after the equivalent reading for the manufacturing sector hit a 10-month high in March, adding to expectations that the economy returned to growth in the first quarter of 2012, after shrinking 0. A general improvement in market activity boosted tenders and further boosts hopes that the UK has dodged another recession. Growth was seen across all construction areas - civil, commercial and housing. The Markit/CIPS survey also showed a modest pace of job creation and an increased use of contractors, reflective of the growth of both output and new orders. Hopes of recovery as builders report a sharp rise in orders Trade News selected by Local Linkup on 05/04/2012