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- UK construction PMI rises to 57.3 in August
UK construction PMI rises to 57.3 in August
Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. increased to 57.3 in August from 57.1 in July, missing expectations for a rise to 57.5.
A reading above 50 indicates expansion in the construction sector.
The increase was driven by a strong rise in business activity and employment.
"UK construction companies remained on a reasonably strong growth footing in August, helped by a sustained recovery in both residential and commercial building activity. Meanwhile, there was another loss of momentum for civil engineering, which brought output growth within this sub-sector further below the multi-year highs seen in 2014," Senior Economist at Markit, Tim Moore, said.
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