UK Construction Fastest Growth for 7 Months

UK Construction Fastest Growth for 7 Months.

A day after it was reported that the manufacturing sector has seen a serious slowdown of growth, the construction sector reports the fastest growth for seven months.

The Markit/CIPS Construction Purchasing Managers Index (PMI) shows that the construction sector jumped to 64 in August form 62.4, surprising experts who had predicted a fall due to supply shortages holding back growth.

This was surprising to most economists who all thought that due to the slowest delivery times since 1997 it would not rise as well as it did. This is also the 16^th consecutive month that the index has remained about 50 indicating growth.

The pace of growth was having an effect on supply, with the numbers of materials and sub-contractors dropping at the fastest pace since 1997, resulting in a record rise in rates charged by sub-contractors.