Published By : 03 Nov 2015 | Published By : QYRESEARCH
In October, the construction sector in the U.K. continued to show signs of positive developments. Despite the slow expansion pace of the construction sector in October, the market remained is firmly positioned in a positive territory. Keeping in line with the expectations of analysts, the Markit construction purchasing mangers’ index dropped from 59.9 in September to 58.8 in October, and is very well above the threshold of 50 indicating no change in the market scenario.
However, the pace of expansion in the construction sector in U.K.is slow as compared to the average expansion observed in 2014. Last year, the latest reading was well above the pre-election low of 54.2, which was recorded in April, as added by Markit.
In the construction sector in the U.K, the continued expansion was propelled by the fast pace of work that was observed in the last 12 months, with higher activity levels that were recorded across the three major construction categories that were monitored during the survey.
In this regard, the growth in housing activity eased from the 12-month high observed in September, whereas May was observed as the threshold month for the latest rise in civil engineering, whereas commercial building work has been observed to increase at the sharpest pace in the last eight months.
Other than these, another index I the construction sector, which is the purchasing manager’s index (PMI) supposedly relatively buoyant indicate the sector to be rude health. In the current state of economic affairs in the UK., the sector is proving to be an important driving force in the upturn of the U.K. economy, and is not a burden on the economy that recent GDP estimates suggested. Recent figures released in this week suggest that the sector was aiding the economy to grow in this year’s last quarter, which are in contrast to the preliminary official figures earlier released that indicated the sector to be dragging in the third quarter