UK Construction and Purchasing Index Show Impressive Economic Recovery

On Tuesday, figures revealed that construction activity in Britain grew at its fastest pace in almost six years in August. The Markit/CIPS purchasing managers’index (PMI) for the sector came in at 59.1 in August, its highest level since September 2007 and far stronger than analysts expected, with Societe Generale Strategist Kit Juckes predicting that the figure would dip to 56.

“The latest Construction PMI figures are yet another indication that the U.K. economy has performed impressively over the summer months,” said Markit Senior Economist Tim Moore. The figures followed Monday’s manufacturing PMI figures which also showed a jump activity, hitting a two-and-a-half-year high of 57.2 in August.

via CNBC

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