The construction sector is still experiencing growth, despite recent figures showing a drop-off in activity last month.
Data from the Chartered Institute of Purchasing and Supply (CIPS) and Markit's Purchasing Managers' Index (PMI) registered 52.1 in August, compared with July's 54.1.
However, chief executive of CIPS David Noble said while it is "disappointing" the industry did not continue expanding, there are still reasons to be optimistic.
"It still looks like we are entering a period of low growth rather than another recession," he explained. "We should remember that overall the sector is still growing."
According to Mr Noble, the residential property sector "is key" to getting the market back on track, although there is still more work needed to ensure there is a good balance between mortgage lending and demand for new homes.
Last month, he said the likeliness of a double-dip recession in construction is unlikely, even if the rate of growth had slowed in recent months.
Data from the Chartered Institute of Purchasing and Supply (CIPS) and Markit's Purchasing Managers' Index (PMI) registered 52.1 in August, compared with July's 54.1.
However, chief executive of CIPS David Noble said while it is "disappointing" the industry did not continue expanding, there are still reasons to be optimistic.
"It still looks like we are entering a period of low growth rather than another recession," he explained. "We should remember that overall the sector is still growing."
According to Mr Noble, the residential property sector "is key" to getting the market back on track, although there is still more work needed to ensure there is a good balance between mortgage lending and demand for new homes.
Last month, he said the likeliness of a double-dip recession in construction is unlikely, even if the rate of growth had slowed in recent months.