Construction enjoyed improved fortunes in April

Last month the UK construction industry had its strongest monthly rise in overall business activity since July, according to the Chartered Institute of Purchasing and Supply (CIPS).

CIPS' headline activity index stood at 56.6 for the month of April. This compares with 56.2 in the previous month.

A reading above 50 signals expansion, while a figure below this shows contraction."

Purchasing managers increased their activity throughout April to satisfy strong demand stimulated by low interest rates," said Roy Ayliffe, director of professional practice at CIPS.

"The sharp increase in oil prices caused input prices to rise, so purchasing managers relied on existing inventories to supply the rise in orders where possible," he added.