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Builders see biggest rise in orders in nearly a year<br />
Builders have kept up the New Year cheer after the industry saw the biggest rise in orders for almost<br />
12 months.<br />
Housebuilding is driving the construction industry forward as December workloads recovered from a<br />
post-Brexit blip, the Chartered Institute of Procurement & Supply said.<br />
Despite rising costs, orders grew at their fastest rate since last January while overall industry activity<br />
is rising at its quickest since March, it added. Chief executive David Noble said: “In the short term at<br />
least, the sector looks set to enjoy these improved demand conditions for the coming months, which is<br />
positive news after many months of instability.”<br />
Manufacturers also saw a strong performance in December. Key data from the much larger services<br />
sector are out tomorrow.<br />
Elsewhere the news was more mixed as Bank of England figures showed faltering business lending and<br />
fewer mortgage loans than expected in November. But consumer spending is rising at its fastest in 11<br />
years, the figures added.
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