News Tag: construction sector

November 3, 2009

Spain’s unemployment rate spirals to 19.3%

by Kay Murchie
Official figures have revealed that Spain’s unemployment rate has reached 19.3% (one of the highest of any European region) as the economy has been hit by a severe slump within the construction industry, which has led to a significant amount of job losses. Spain’s jobless rate is more than double the 9.2% rate for the EU as a whole. The total number of ...

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August 5, 2009

Pound continues to rise against US dollar following positive economic news

by Kay Murchie
Sterling is continuing to climb against the US dollar on the back of renewed optimism within the UK economy. News released today sent the pound back above the $1.70 mark - its highest level since October last year. According to the Office for National Statistics, industrial output rose unexpectedly in June by 0.5% compared with May. While it ...

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August 4, 2009

Construction sector shows tentative signs of recovery

by Kay Murchie
There are tentative signs that the construction sector is recovering after figures today revealed that the slowdown in activity eased in July to the slowest pace for sixteen months. The CIPS/Markit Construction Purchasing Managers’ Index posted a reading of 47 in July, edging closer to the 50 mark which indicates growth. The index is up from the 44.5 recorded in June ...

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Sterling hits 10-month high

by Kay Murchie
Optimism surrounding the UK economy continued today after the pound continued its gain against the US dollar. Sterling briefly reached as high as $1.7005 today - the highest level since October - before falling back to $1.6930. While the pound still has a long way to go to reach the $2 mark seen a year ago, it has recovered 25% from the 23-year low ...

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May 5, 2009

Construction industry sees slight improvement in activity

by Kay Murchie
As property prices have plummeted, the UK construction sector has been badly affected with new orders falling and projects put on hold. Housebuilders have been announcing severe falls in profits and substantial job losses recently but it seems there may be a light at the end of the tunnel after the latest Chartered Institute of Purchasing and Supply/Markit construction PMI ...

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