UK construction ends the year on a positive note

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The UK’s construction sector ended the year on a high as the figures revealed growth was seen during December…

The construction industry exceeded expectations during the last month of 2015, it has emerged. Figures from the purchasing managers’ index (PMI) for the construction sector revealed an increase from 55.3 in November to 57.8 in December. This surpassed the forecasts of economists, who had expected the figure to reach 56.

The figures are good news for the sector, which experienced a tumultuous year, in particular due to the uncertainty surrounding May’s general election. December’s figures mean the industry finished 2015 on a high after poor growth was seen in October and November.

Tim Moore, senior Economist at Markit, said: “UK construction companies finished 2015 in a positive fashion, as overall output growth recovered from November’s seven-month low.

“Commercial building was the main engine of growth, with this area of activity expanding at the strongest pace since autumn 2014.

“There was also a rebound in house building activity in December, but momentum was still much softer than the post-crisis highs achieved during 2014.”

These latest figures are shy of the year’s highest, which were seen February when the construction PMI topped 60.

The sector is expected to continue to see growth in 2016 due to a vast infrastructure programme, as well as government plans to directly commission the construction of more homes.

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