British construction growth hits 7 month high

GMT 11:00 2014 Tuesday ,02 September

Arab Today, arab today British construction growth hits 7 month high

British construction
London - XINHUA

British construction output grew at its fastest pace in seven months in August, boosting job creation but also putting strain on suppliers, data from Markit showed Tuesday.
British construction purchasing managers' index (PMI) rose to 64.0 in August, up from 62.4 in July, said the London-based survey compiler.
The three broad categories of construction activity rose strongly in August.
Residential construction posted the fastest rise in activity, despite the pace of expansion moderating slightly to a three-month low, said Markit.
Civil engineering activity increased at the strongest pace since March, while growth of commercial construction again held close to its fastest since the summer of 2007.
Besides, the employment growth holds close to July's record-high. But the survey-record strains on supplier lead-times and sub-contractor availability.
The construction sector dominates the British economy, contributing around 6.3 percent of the gross domestic product (GDP), according to the Office of National Statistic (ONS).

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