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<\/a><\/div>\n<\/div>\nTim Moore, Economics Associate Director at IHS Markit, said: \u201cThe UK construction sector moved into decline during February as Brexit anxiety intensified and clients opted to delay decision-making on building projects.<\/p>\n
“Risk aversion in the commercial sub-category has exerted a downward influence on workloads throughout the year so far. This reflects softer business spending on fixed assets such as industrial units, offices and retail space.<\/p>\n
“The fall in commercial work therefore hints at a further slide in domestic business investment during the first quarter, continuing the declines seen in 2018.<\/p>\n
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<\/a><\/div>\n<\/div>\n\u201cThere were also reports that the more fragile housing market confidence has begun to act as a brake on residential work, which adds to signs that house building has lost momentum since the end of last year.<\/p>\n
“This leaves the construction sector increasingly reliant on large-scale infrastructure projects for growth over the year ahead.<\/p>\n
\u201cConstruction companies pared back their purchasing activity in response to subdued demand in February, but delivery delays for inputs were among the highest seen over the past four years.<\/p>\n
“Survey respondents noted that stockpiling efforts by the UK manufacturing sector had an adverse impact on transport availability and supplier capacity across the construction supply chain.<\/p>\n
\u201cOn a more positive note, input price inflation held close to January’s two-and-a-half year low.<\/p>\n
“The slowdown in cost pressures from the peaks seen in the first half of 2018 provides a signal that the worst phase has passed for supplier price hikes related to sterling depreciation.”<\/p>\n
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