UK construction growth hits 14-month high in April, PMI survey shows [Reuters]
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Source: Reuters
house-building, according to a survey on Tuesday that added to signs of an economic recovery from recession. The S&P Global UK Construction Purchasing Managers' Index rose to 53.0 from 50.2 in March - moving further above the 50-point growth threshold and marking the fastest growth since February 2023. The survey's gauges of commercial work and civil engineering shot higher, although the housing sector's downturn worsened in April. Recent house price surveys have pointed to a moderation in the housing market's recovery. Tuesday's PMI chimed with other business surveys that suggest Britain's economy returned to modest growth in early 2024 after its shallow downturn in the final two quarters of last year. "Demand was boosted by greater confidence regarding the broader UK economic outlook," Tim Moore, economics director at S&P Global said. The survey signalled a fourth successive contraction in employment among construction firms, albeit the shallowest for three months. The a
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