facebook
twitter
search
search

British construction shows solid growth in July

Aug. 2, 2013 at 8:38 AM

LONDON, Aug. 2 (UPI) -- The Purchasing Managers Index for Britain's construction sector showed a sharp June to July jump, with a surge in housing activity pushing it higher.

Markit Economics said the sector's PMI rose from 51, just above the break-even point of 50, to 57, which indicates solid growth.

Construction posted its highest PMI since June 2010 due to a "robust and accelerated expansion of overall business activity in the construction sector," Markit said.

Each of the sub-categories in construction, residential building, civil engineering and commercial construction, expanded, Markit said.

"July's survey highlights a new wave of optimism across the U.K. construction sector, with companies reporting a pace of expansion in excess of anything seen over the past three years," Senior Economist Tim Moore said.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Aetna to acquire Humana for $37 billion in cash, stocks
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules