British construction growth rebounds in Jan.
Xinhua, February 3, 2015 Adjust font size:
British construction output growth rebounded in January, signaling a robust and accelerated expansion of overall business activity at the start of 2015, said Markit on Tuesday.
British construction purchasing managers' index (PMI) rose to 59.1 in January 2015, up from 57.6 in December 2014, said the London-based survey compiler.
The three broad categories of construction activity accelerated since December 2014, but each expansion was eased.
Residential building was the best performing sub-category in January, with the latest survey marking two years of continuous expansion.
Meanwhile, latest data also indicated a robust rise in commercial construction and a rebound in civil engineering activity following a decline recorded in December.
The construction sector dominated the British economy, contributing around 6.4 percent of the gross domestic product (GDP), according to the Office of National Statistic (ONS).
"Britain construction companies have found their feet again after a protracted slowdown in output growth at the end of 2014," said Tim Moore, senior economist at Markit.
However, the construction sector has had a perky start with good activity across all sectors, said David Noble, group chief executive at the Chartered Institute of Purchasing and Supply.
"The modest increase in growth may beat away any wider concerns around an unsustained improvement in the sector's fortunes," said Noble. Endit