Housebuilding boosts UK construction sector in July

house being built

UK housebuilding grew at its fastest rate in nearly 11 years in July, a survey suggests.

The Markit UK Construction PMI report said home building grew at its steepest rate since November 2003, driven by strong demand for new projects.

Housebuilding is just a part of the PMI index. which also includes commercial building and civil engineering.

Overall, the index edged down to 62.4, from 62.6 in June. But anything above the 50 level indicates growth.

The report says that construction activity has grown for 15 consecutive months and that last month hiring in the sector grew at its fastest rate since the survey began in April 1997.

"July's figures suggest the UK construction sector is enjoying its strongest cyclical upswing since the global financial crisis, while a new record rise in employment highlights that construction firms are increasingly confident about the sustainability of the upturn," said Tim Moore, senior economist at Markit.

The report also indicated that civil engineering activity lifted strongly in July and that commercial construction also rose, but at a slower rate than in June.

More on This Story

More Business stories

RSS

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.