Construction sector ‘in rude health’ as new business surges
THE UK’s construction sector remains in “rude health”, driven by the fastest rise in new business for a year, a report said.
Tim Moore, senior economist at Markit, said: “Another relatively buoyant construction PMI reading indicates that the sector remains in rude health.
But last month’s reading remains comfortably above 50 which indicates growth, and marks two-and-a-half years of sustained output growth across the sector.
The sector was driven by an uplift in commercial building, with housing and civil engineering work also expanding but at a slower rate.
The latest Markit/CIPS Purchasing Managers’ Index (PMI) survey for the sector showed that activity eased slightly to give a reading of 58.8 in October, although this was down from a seven-month high of 59.9 in September.