The building industry maintained its modest recovery in May after catching a cold during snowy weather earlier in the year.
The purchasing managers’ index for the construction sector shows the balance holding steady at 52.5, the same as April, after a sharp contraction in March, when builders were hit by extreme weather.
Any reading above 50 indicates expansion in a sector, while a number below represents contraction. May’s reading was above economists’ forecasts of 51.9 for the month.
The Guardian added that while the industry continued to stage a modest recovery in May after bad weather earlier this year, reduced demand from struggling retailers was one reason cited by the survey for the fourth decline in new orders in five months.
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