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02.07.2013 10:02

UK construction activity at one-year high

British construction sector activity expanded for a second consecutive month in June and at the strongest pace in over a year, a survey report from Markit Economics and the Chartered Institute of Purchasing & Supply showed Tuesday.

The headline purchasing managers' index rose to 51 in June from 50.8 in May. The June reading was the highest since May 2012.

Readings above 50 indicate expansion of the sector. The index has now remained above 50 for a second successive month in June.

Higher output levels were driven by a solid rate of new order growth in June, and this in turn contributed to rising employment levels in the construction sector during the latest survey period, the report said.

New order growth was the strongest in 13 months. In June, the rate of job creation was the most marked since September 2012. The survey also found that business confidence among builders was at its highest level since April 2012.

Residential building activity improved for a fifth consecutive month, but the rate of expansion eased from May's 26-month high. Business activity stabilized in commercial and civil engineering sub-sectors.

02.07.2013 10:33

European stocks retreated

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