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Construction sector hints at recovery as commercial building picks up pace

Mar 7th 2018 8:03am

Britain’s construction sector is beginning to show signs of progression as commercial building work accelerated in February at its fastest pace since May 2017.

Residential construction also picked up with IHS Markit’s purchasing managers’ index (PMI) for homebuilding rising to 51.5, up from 48.1 in January and above the 50-mark which indicates growth. But civil engineering work fell into contraction with a PMI of 47.3.

All of these figures represents a faster acceleration than economists had anticipated and indicates that the construction industry will pick up the pace as we continue through the year

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