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Construction figures ‘continuing to grow’

March 3rd, 2011

New figures for the construction sector have shown that the industry continued to grow during February.

The Markit/CIPS UK Construction PMI index have shown that the sector continued to improve during February, building on the increase that was recorded for the previous month and seeing its fastest rate of growth for eight months.

In the report, figures above 50 represent growth and the construction industry recorded 56.5 during the last month, a rise on the 53.7 that was seen in January 2010.

Sarah Ledger, economist at Markit and author of the UK Construction PMI said: “February’s survey showed continued recovery in the UK construction sector following December’s weather-related decline in activity.”

She added that the figures would imply the Office for National Statistics will report a bounce back in growth during the first quarter of 2011.

It was recently suggested that the figures recorded by Galliford Try could indicate that there is to be a recovery in the housing market, as it saw a 26 per cent rate of growth in half-year to December 31st 2010.

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