Latest PMI survey records stronger growth across housing, commercial and civil engineering sectors
Growth in the construction sector rebounded in January, according to the latest Markit/CIPS survey.
The Markit/CIPS index, which measures the rate of increase or decrease in the activity of purchasing managers, rose to a score of 59.1 in January, up from 57.6 in December. The 50-point mark separates growth from contraction.
The uptick in growth comes after three straight months of slowing growth at the back end of 2014.
Tim Moore, senior economist at Markit, said: “UK construction companies have found their feet again after a protracted slowdown in output growth at the end of 2014.
“Stronger trends were recorded across housing, commercial and civil engineering, although each category of activity still experienced much slower growth than the high-water marks achieved last year.
“In short, the peak speed of the construction recovery seems to be over, but reports of its death have been greatly exaggerated.”
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