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News

Construction grows at fastest rate for two years

02/06/2010

In May, the UK construction industry expanded at the fastest rate since September 2007.

The latest Chartered Institute of Purchasing and Supply (CIPS) and Markit Purchasing Managers Index posted a construction activity figure of 58.5 for May. A figure over 50 shows growth. The figure was slightly up on April’s 58.2.

A rise in new orders drove the increase in activity, and also led to an increase in employment for the first time since May 2008.

Markit economist and author of the UK construction PMI Sarah Ledger, Economist at Markit and author of the UK Construction PMI said all three sub-sectors (housing, commercial and civil) were showing an expansion in activity, but that it was unlikely that the current rate of growth will be maintained over the medium-term, partly because of the uncertainty surrounding cuts in public spending.

See the full story from Construction News - http://www.cnplus.co.uk/8600626.article