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British construction PMI up slightly to 57.3 in August

Xinhua, September 2, 2015 Adjust font size:

British construction purchasing managers' index (PMI) rose slightly to 57.3 in August, compared with 57.1 in July, said Markit Economic Limited on Wednesday.

August data pointed to a solid expansion in new business intakes across the British construction sector, but the rate of growth eased to its least marked since May, said the London based data compiler.

Data showed that residential building remained the fastest pace of expansion in the construction sector. Growth of commercial work also accelerated since the previous month, reaching its strongest since March.

Meanwhile, civil engineering was the weakest performing broad area of activity, with the latest rise in output the slowest for three months.

The pace of job creation at construction companies kept strong in August. The current period of staff hiring now stretches to 27 successive months, which is the longest recorded by the survey for just over nine years, said Markit.

The construction sector maintained its position as a strong engine of job creation in August, as permanent staff numbers and sub-contractor demand both picked up over the month, Tim Moore, senior economist at Markit, commented. Endit