Wednesday, 5 February 2014

UK Construction PMI - January 2014

UK's construction PMI rose to 64.6 in January from 62.1 in December with growth reaching its highest level since the start of the financial crisis in August 2007.

Construction activity expanded for a ninth straight month last month, with the PMI far exceeding economists' forecasts in a of 61.5, and all three sub-sectors of the industry expanding.

As the strongest sub-sector, Residential house building rose to 67.3, its highest since November 2003. Commercial construction and civil engineering both rose to a six-and-a-half year high of 64.0 and 63.5 respectively.

Tim Moore, Senior Economist at survey compilers, Markit, said "The latest data show positive developments on a number of fronts, with job creation rebounding at the start of the year while output and new business growth was the fastest since the summer of 2007".