03 Jul Vote boost for construction

Posted at 09:00h in Construction, Investment by
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The sector, which contributes about 6.4 per cent of Britain’s economic output, enjoyed its fastest growth in activity since February.

The Markit/CIPS purchasing managers’ index (PMI) jumped to 58.1 in June from 55.9 in May – a reading over 50 means expansion.

Housebuilding remained the fastest growing area, but there was also a sharp upturn in commercial and civil engineering.

Markit senior economist Tim Moore said: “ Optimism is partly down to relief election uncertainty has past, but also suggests firms are infused with confidence underlying demand will continue to recover.”

He said “scorching hot demand” for construction products put pressure on supply chains in June.

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