UK construction growth misses forecast in August
UK construction activity growth rose less than expected in August, a survey from Markit and the Chartered Institute of Purchasing & Supply revealed.
The purchasing managers' index climbed to 57.3 last month from 57.1 in July, missing forecasts for a reading of 57.5m but remaining comfortably above the 50 level that signals expansion in the sector.
“UK construction companies remained on a reasonably strong growth footing in August, helped by a sustained recovery in both residential and commercial building activity," said Tim Moore, senior economist at Markit.