Wednesday, 4 September 2013

UK Construction PMI - August 2013

The U.K.'s construction sector expanded at its fastest pace in August since September 2007, with a PMI of 59.1, up from 57 in July.

Underpinned by steep expansions of both output and new orders this is a clear sign that the UK's economic recovery is gathering pace.

Among three broad industry sectors of the industry, residential construction remained the strongest performer but there was a notable growth in both the civil and commercial sectors.

With new business growing rapidly, business confidence remained high with around 46% of the survey respondents expecting a rise in business activity and only 10% a reduction. Employment also saw a rise in August for the third consecutive month.