Markit/CIPS figures give positive picture
The Vinden Partnership has given an upbeat response to the latest Markit/CIPS UK Construction PMI showing business activity in October increasing at its fastest pace since March. Chris Duffill, director with The Vinden Partnership, points to the October figure being 52.6, up slightly from September’s 52.3 and above the threshold for growth of 50.
A key driver for growth was residential housing activity, with commercial activity being steady. Civil engineering saw a slight fall and was the weakest-performing sector.
There was a modest rise in new business.
Chris Duffill comments, ‘Given the continuing Brexit uncertainty, any sign of growth can be taken as a positive.
‘The industry has, despite the economic circumstances, coped well and proven very resilient. It’s good to see residential building perform well again, and I’m sure the Government will be relieved to hear this.’