Belfast Telegraph

Housebuilding buoys industry up in November

By Kalyeena Makortoff

The UK's construction industry experienced a "moderate rebound" in November, as a pick-up in home building helped output grow at its fastest pace in five months.

The Markit/CIPS UK Construction purchasing managers' index (PMI) showed a reading of 53.1 last month, up from 50.8 in October and easily beating economist forecasts for 51.0.

A reading above 50 indicates growth.

It was the highest reading in five months, with house building projects again emerging as the "primary growth engine" for industry activity.

The survey said participants chalked the growth up to "resilient demand" and a "supportive policy backdrop" for residential development. It helped offset a drop in civil engineering activity and commercial construction, which was the weakest performing sub-sector in November as Brexit-related uncertainty and a subdued economic outlook weighed on client investment.

Belfast Telegraph

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.

Popular