UK construction activity grew at its fastest pace for six years last month, an influential survey has suggested.
The Markit/CIPS construction purchasing managers’ index (PMI) rose to 59.4 in October, up from 58.9 in September.
It is the sharpest increase since September 2007, and higher than economists had forecast.
Any figure greater than 50 indicates expansion. The construction PMI has now been above that level for six months in a row.
“UK construction output continues to rise like a phoenix from the ashes, with housing, commercial and civil engineering activity all seeing strong rates of expansion at the start of the fourth quarter,” said Markit economist Tim Moore.
Housing activity was the strongest performing sector in the survey. However, the pace of its expansion slipped slightly from September’s 10-year high.
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