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.

Related UPI Stories
Latest Headlines
Trending Stories
Rapper DMX found unconscious, revived by New York police
Alaska woman claims McDonald's Happy Meal hasn't aged in six years
N.H. primary polls open: Kasich, Sanders get early leads
5 Reasons why Denver Broncos won't be repeat champions
Exposure to flashing light may prevent jet lag