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Construction sector celebrates strongest conditions since 2007
THE CONSTRUCTION sector is still expanding as house builders get started on a growing number of projects, according to a survey of the industry released yesterday.
Although analysts expect a modest slowdown for the economy as the year comes to an end, builders reported the second-strongest conditions since 2007 in August, according to data firm Markit.
The group’s purchasing managers’ index (PMI) hit 64, far above the neutral 50 level, indicating extremely fast growth. House builders reported the most widespread increase in activity.
“Construction firms remain extremely upbeat about the prospects for expansion as new business continued to rise strongly. The strength of output has raised capacity pressures,” said Robert Wood of Berenberg.