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Construction News
03/04/2012
UK Building Activity On The Up
The UK building sector is celebrating a good month in March as activity grew at the fastest rate in more than four years, according to a recent Markit survey.
The Markit Purchasing Managers Index survey (PMI) of the construction industry rose from 54.3 in February 2012 to 56.7 in March 2012, indicating a pick-up in the rate of expansion.
Housing projects have remained fairly steady with little change but there was a marked rise in commercial and civil engineering projects.
Chris Williamson, Economist for Markit, said the survey demonstrates this is the biggest monthly rise in new orders for four and a half years: "Coupled with increasing activity recorded in the first two months of the year, this bodes well for the sector’s contribution to overall growth of the economy in the first quarter and will raise hopes that the country has avoided a slide back into recession."
As well as this encouraging revelation, the PMI survey also revealed a modest increase in the levels employment, putting confidence levels at their highest for two years.
(HMc/GK)
The Markit Purchasing Managers Index survey (PMI) of the construction industry rose from 54.3 in February 2012 to 56.7 in March 2012, indicating a pick-up in the rate of expansion.
Housing projects have remained fairly steady with little change but there was a marked rise in commercial and civil engineering projects.
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Chris Williamson, Economist for Markit, said the survey demonstrates this is the biggest monthly rise in new orders for four and a half years: "Coupled with increasing activity recorded in the first two months of the year, this bodes well for the sector’s contribution to overall growth of the economy in the first quarter and will raise hopes that the country has avoided a slide back into recession."
As well as this encouraging revelation, the PMI survey also revealed a modest increase in the levels employment, putting confidence levels at their highest for two years.
(HMc/GK)
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