The UK’s construction sector managed to eke out modest growth last month, but firms said they remained cautious about the future as residential activity fell for the fifth month running.
According to the Markit/Cips survey, where a reading above 50 represents growth, overall activity in the sector rose to 50.5 in October, up from 49.5 the previous month and the highest figure since July.
However, the headline reading was weaker than the 56.3 average seen in the decade leading up to the global financial crisis in 2008, highlighting an ongoing subdued trend.
Tim Moore, senior economist at Markit, said: “The bigger picture remains bleak given ongoing falls in new orders alongside renewed job cuts across the sector over the month.”