UK Construction Continues Growth in September

Britain’s construction industry maintained its five-month run of strong growth in September, according to the CIPS/Markit survey of purchasing managers in the sector.

Markit said construction companies ended the third quarter of 2013 with “a strong expansion of overall output levels and a further improvement in their new order books”.

A slight dip in growth from a soaring month of expansion in August failed to dent confidence in industry boardrooms for the year ahead. The degree of positive sentiment was the highest since April 2010.

Higher-than-expected order books also boosted employment numbers for the fourth consecutive month. Job creation reached its fastest for just under six years.

Much of the growth came from private housebuilding, which has grown strongly over the last year in response to the government’s Help to Buy deposit guarantee for new homes and is now rising at its fastest rate since 2003. The Bank of England’s Funding for Lending scheme, which has cut mortgage rates, is also credited with increasing the supply of cheap credit.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza