Builders start to slow with lowest growth in eight months

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The Chartered Institute of Purchasing and Supply's latest activity index, where a score above 50 shows growth, slipped to 51.6, the lowest for eight months. Firms also laid off more staff.

Construction grew at 9.5% between April and June — its fastest pace for more than 40 years — and followed it up with a 4% advance in the third quarter. CIPS said this was unlikely to be repeated as spending cuts bite.

Housebuilding and civil engineering work shrank while growth slowed in the commercial sector.

The survey put a dampener on better news from manufacturers yesterday who delivered a surprise export-led growth spurt last month.

CIPS chief executive David Noble said the industry faced "nerve-racking" prospects: "The recent growth in the construction sector seems to be petering out.

"Further declines look inevitable as nervy customers and a spendthrift public sector put firms in a precarious position."