🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

UK construction growth slows in October - PMI

Published 03/11/2015, 15:14
© Reuters. A worker lays bricks for a residential home at a building site in north London

LONDON, (Reuters) - Growth in Britain's construction sector slowed in October after hitting its fastest pace in six months in September but the increase in new work was the quickest in a year, a survey showed on Tuesday.

The CIPS/Markit construction Purchasing Managers' Index (PMI) slipped back to 58.8 in October, in line with a Reuters poll of economists, from 59.9 in September.

A reading of British manufacturing published on Monday showed surprising strength last month, suggesting the economy may have gathered pace in the final quarter of 2015.

Tuesday's construction survey suggested the sector was also helping the economy to grow in the final quarter of the year, in contrast to preliminary official figures which showed it acted as a drag in the third quarter, Tim Moore, senior economist at Markit, said.

© Reuters. A worker lays bricks for a residential home at a building site in north London

Housing activity growth eased from September's 12-month high and the rise in civil engineering was the slowest since May. However, commercial building work increased at the sharpest pace for eight months and the rise in incoming new work was the steepest since October 2014 as construction companies won projects from public and private sector clients, Markit said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.