The British construction industry has seen strong growth in December, according to a survey published on Tuesday, picking up from a seven-month low in November.
The Markit/CIPS UK Construction Purchasing Managers’ Index rose to 57.8 from 55.3, above the number expected by analysts. Any figure above 50 indicates growth. Tim Moore, Markit’s senior economist, commented on the report:
“UK construction companies finished 2015 in a positive fashion, as overall output growth recovered from November’s seven-month low. Commercial building was the main engine of growth, with this area of activity expanding at the strongest pace since autumn 2014. There was also a rebound in house building activity in December, but momentum was still much softer than the post-crisis highs achieved during 2014.”
The is the second piece of positive news for the UK construction sector this week, after Prime Minister David Cameron announced yesterday that the government has made plans to directly commission the construction of homes on land owned by the taxpayer in order to boost the housing market.
05/01/2015