March boost for British builders

Builders boomed in March after a surprise surge in new orders, the Chartered Institute of Purchasing & Supply (Cips) said yesterday.

Although construction accounts for just 7 per cent of the economy, the strength of its latest activity index – coupled with decent manufacturing figures on Monday – sees the threat of a technical recession in Britain recede further.

Cips' activity index – where a score over 50 signals growth – registered 56.7 in March, the highest for nearly two years.