The CPA may still be predicting gloom, but there has been a notable drop in the rate of decline

After 17 months of unrelenting torment, it looks like the UK construction sector is finally a step closer to recovery as the July CIPS/Markit Purchasing Managers’ Index highlighted the slowest pace of decline since March last year (see index).

This progress is largely on the back of an improvement in the volumes of new orders placed. Though still declining, its rate of retrenchment was the slowest seen since last February. As we see demand for construction activity re-emerge, optimism in future sector performance also grew.

This article continues at David Noble's blog