UK Construction Industry Shows Fastest Growth in 12 Months

02 - 03 - 2012

The UK construction industry has shown the fastest growth in 12 months, according to a survey by the Markit/CIPS Purchasing Managers' Index (PMI).

The PMI for construction rose from 51.4 in January to 54.3 in February, whereas analysts had expected a slight fall. A reading above 50 implies that the sector is growing. 
The housing, commercial and engineering sectors all showed growth. Commercial construction was the strongest, expanding at the fastest pace, but residential and civil engineering also bounced back from contractions last month.
Strength in the construction industry could help the UK avoid a double-dip recession, after the economy contracted during the last three months of 2011.
Meanwhile the Markit/CIPS PMI for manufacturing slipped to 51.2, down from 52 in January.
Working in the construction industry and looking for further advice on self-employment, contracting or tax? Contact us on 01244 625 500 for free initial advice.








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