Builders rallying after snow but not enough to excite rate setters at the Bank of England

ORDERS remain “too few and far between” for Britain’s builders despite a bounceback from the snow in April, industry watchers warned today.

Housebuilders led an April return to growth for the construction industry, which badly dragged back the wider economy in the first quarter of 2018, according to the Chartered Institute of Procurement & Supply.

Conditions remain sluggish, however. Although Cips’ activity index moved back into expansion territory, registering 52.5 against March’s snow-blighted 47, the wider picture is of subdued confidence and barely growing workloads.

Cips director Duncan Brock said: “Economic uncertainty and Brexit-related indecision continue to lurk beneath the surface as obstacles to the construction sector’s stability.

“New orders remain too few and far between, with just a small improvement in the level of extra work reported this month.”

The Bank of England is likely to hold fire on an interest rate rise next week after a run of weak data.