Construction rebounded last month after March’s extreme winter weather put building projects on hold, but the improvement was not enough to brighten the general outlook.
The April purchasing managers’ index for construction jumped to a five-month high of 52.5 in April from 47.0 in March, comfortably above forecasts for 50.5 and indicating growth.
However, the advance did not restore confidence lost since last week’s weak GDP data and Tuesday’s poor manufacturing PMIs, which showed factory output at a 17-month low.
