UK construction grows for first time in four months

‘Swift recovery’ in housebuilding drives purchasing index to 52.3 in September

British prime minister Theresa May and chancellor of the exchequer Philip Hammond visit a site in Birmingham where new HSBC offices are being built. Photograph: Stefan Rousseau/Reuters
British prime minister Theresa May and chancellor of the exchequer Philip Hammond visit a site in Birmingham where new HSBC offices are being built. Photograph: Stefan Rousseau/Reuters

Output in Britain’s construction industry grew for the first time in four months in September following a “swift recovery” in housebuilding.

The closely-watched Markit/CIPS construction purchasing managers’ index (PMI) hit 52.3 last month, up from 49.2 in August and above economists’ expectations of 49. A reading above 50 indicated growth.

The expansion is a stark contrast to the sector’s slump in the aftermath of the Brexit vote when activity reached 45.9 in July. – (PA)