U.K. construction PMI for September recovered

According to S&P Global / CIPS, the U.K. construction purchasing managers’ index rose to 52.3 in September from 49.2 in August, above 50 for the first time since June, but tending to contract due to slow growth in new orders.

A PMI above 50 indicates that economic activity is expanding.

S&P Global Market Intelligence’s economic director said, ” The U.K. construction business activity expanded slightly in September. But most of it was driven by pending projects, and increasing supply shortages. Not because there are so many new orders.”

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