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UK construction hits six and a half year high

The construction industry had its best month for almost six and a half years, according to the Markit/CIPS purchasing managers’ Index (PMI) for January.
The PMI rose from 62.1 in December to 64.6, its highest since August 2007 and signals one of the strongest growth rates seen since survey data were first collected in 1997.

Markit said that the latest reading is indicative of the construction sector growing at a quarterly rate of approximately 4%, and that the 0.3% fall in construction output indicated by official data in the fourth quarter was merely a ‘blip’.

An increase in house building has led to this growth, while an upturn in commercial construction and civil engineering was also recorded.

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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