Housebuilding surge is building recovery for construction industry
The sector, which accounts for about 6 per cent of Britain’s economic output, outperformed expectations as it rebounded in September from a slump in activity to a seven-year low following the EU referendum.
Residential was the driver, enjoying its strongest performance since January.
Civil engineering also picked up, but commercial construction decreased for the fourth straight month.
The Markit/CIPS construction purchasing managers’ index climbed to 52.3 from 49.2 in August – above the 50-point mark denoting expansion for the first time in four months.
Economists had predicted a reading of... read more
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