House building boosts UK construction sector in July

House building in the UK has boosted the construction sector of the UK in July as building grew at its steepest rate since 2003.

With a strong demand for new projects along with a rising population and government backing the construction sector is looking to build on this growth and move forward in the coming months.

Construction has grown for fifteen consecutive months along with the hiring in the sector growing at its fastest since 1997 when the survey began.

“July’s figures suggest the UK construction sector is enjoying its strongest cyclical upswing since the global financial crisis, while a new record rise in employment highlights that construction firms are increasingly confident about the sustainability of the upturn,” said Tim Moore, senior economist at Markit.

Both civil engineering and commercial construction also saw a rise in July which saw the sector as a whole grow at its fastest rate for 11 years.

All this information comes from the PMI index which currently stands at 62.4 with anything above the level of 50 showing growth.

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