Key Statistics: 6th March 2012

Glenigan's weekly roundup of keys statistics for the UK construction industry and the wider economy:

Construction

• The underlying value of construction starts increased by 17% over the three months to February compared to a year ago, according to latest Glenigan data.
• The Markit/CIPS purchasing managers' index for construction jumped to 54.3, the highest since last March and compared with 51.4 in January.

UK Economy

• According to the British Retail Consortium retail sales values were down 0.3% in February on a like-for-like basis from February 2011. However, on a total basis, sales were up 2.3% on last year.
• UK house prices fell by 0.5% in February compared with the previous month, according to the latest survey from the Halifax. The average home now costs £160,118, 1.9% down from a year earlier.
• In its quarterly economic forecast, the British Chambers of Commerce predicted the UK economy would grow by 0.6% over 2012, down from its previous forecast of 0.8%.
• The Halifax House Price Index showed that average price increased by 0.6% in February, up 0.9% on February 2011.