简体中文
World Biz
British construction sector enjoys surprise growth spurt
Last Updated: 2018-08-03 12:37 | Xinhua
 Save  Print   E-mail

The British construction sector enjoyed its strongest period of growth for more than a year in July, data released on Thursday showed.

The Purchasing Managers' Index (PMI) showed construction activity was at a 14-month high in July, led by the strongest house building performance since December 2015.

Commercial activity was similarly buoyant, also at a 31-month high, while civil engineering was more subdued but still at a 12-month high.

The construction PMI was 55.8 (above 50 is growth), up from 53.1 in the previous month.

Survey respondents commented on improving demand conditions, higher volumes of new project starts and, in some cases, a degree of catch-up from the bad weather earlier in 2018.

Howard Archer, chief economic adviser to the EY ITEM Club, a financial analysis firm, said the survey pointed to a good start to the third quarter for the construction sector, building on a rebound in the second quarter after bad weather seriously affected the sector in the first three months of the year.

"New orders growth improved to a 14-month high in July, Fuelling hopes that the construction sector can build on its recent improvement," Archer told Xinhua.

"There were reports that improving client demand had led to successful negotiations on larger-scale projects. Adding to the better picture, employment growth was at a 31-month high," he added.

0
Share to 
Related Articles:
Most Popular
BACK TO TOP
Edition:
Chinese | BIG5 | Deutsch
Link:    
About CE.cn | About the Economic Daily | Contact us
Copyright 2003-2024 China Economic Net. All right reserved