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Construction industry 'is showing growth'

Published on: Wednesday, 02 June 2010 06:00PM | Author: Editor |
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Brick tools users may be encouraged to hear that new statistics have shown the construction industry experienced growth in April.

The Chartered Institute of Purchasing & Supply (CIPS) and Markit Purchasing Managers' Index (PMI) for the month gave a reading of 58.2, with any score over 50 signifying expansion.

According to the CIPS, this is the strongest rate of growth recorded on the PMI since September 2007 and may offer hope to regarding the state of the economy.

Chief executive of the organisation David Noble said new contracts in the sector could be on the increase, particularly in housing.

He remarked: "It's encouraging to see the construction sector show signs of recuperation for the second month running and suggests that the whole UK economic recovery has real substance."

Last month, the PMI for the building industry rose above the neutral 50 mark for the first time in more than two years, with Mr Noble describing it as "great to see".

Posted by Andrew MilesADNFCR-2977-ID-19814334-ADNFCR

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