Construction Sector Returns To Growth
6th December 2017.
Britain’s struggling construction sector appears to have climbed out of recession in November as a surge in house-building came to the ailing industry’s rescue.
According to a new Purchasing Managers’ Index (PMI), a rise in residential construction has dragged optimism in the industry up from its recent five-year lows.
Howard Archer, chief economic advisor to the EY Item Club, was positive about the results, predicting that construction activity could see modest growth in the fourth quarter of the year.
He does not however expect any rapid recovery as companies hold off making big investments.
“Extended tepid economic activity and heightened economic, political and Brexit uncertainties are clearly hampering the construction sector. Clients are particularly cautious over committing to major construction projects,” he said.
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