Another good read in the strong recovering construction sector and the biggest rise for six years.
Housing was once again the strongest area of the data with decent gains also seen in Civil engineering and commercial activity. Employment also rose at the fastest pace for 6 years.
Signs are showing that demand is starting to outstrip supply which will also be a good factor for hiring as confidence in the recovery will lead to firms taking on new workers.
Tim Moore at Markit says;
“UK construction output continues to rise like a
phoenix from the ashes, with housing, commercial
and civil engineering activity all seeing strong rates
of expansion at the start of the fourth quarter.
“Official data showed that the construction sector
lived up to the strong billing given by business
survey evidence during the third quarter of 2013.
Importantly, the latest Construction PMI survey
signals that job hiring and input buying are now
rising in tandem with greater new business inflows.
UK Markit CIPS construction 04 11 2013
Cable taking a muted run up to 1.5957 from 1.5939.
