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A survey for July has shown that the construction industry in the UK has reached its highest level of activity since June 2012.
The survey by financial advisers Markit and the Chartered Institute of Purchasing and Supply shows the sector was boosted by a continuing surge in house building.
The Markit/CIPS Construction Purchasing Managers' Index rose to 57.0 in July from 51.0 the month before, with any figure above 50 indicating expansion.
Tim Moore, Senior Economist at Markit and author of the survey said: ?July?s survey highlights a new wave of optimism across the UK construction sector, with companies reporting a pace of expansion in excess of anything seen over the past three years.
?The swing back to output growth broadened to include commercial and civil engineering activity during July, although housing construction remains the one thing crucial to the sector?s strong upturn at present.
?Construction firms saw the fastest improvement in new orders for over a year, which helped kick-start job creation and input buying growth during July.
?A switch to sharply rising purchasing activity may have caught some suppliers by surprise, as delivery times lengthened to the greatest degree in over seven years.?
The construction sector has been an area of weakness in the UK economy.
The sector is still more than 16.5 percent lower than it was before the start of the financial crisis in 2008, despite this growth.
David Noble, Chief Executive Officer at the Chartered Institute of Purchasing and Supply, said: ?Homes are the beating heart of this rapid recovery in the construction sector, backed by a solid expansion in civil engineering and commercial activity.
?Better economic conditions, a jump in new business activity and the strongest level of confidence since the era of austerity began in 2010, strongly suggest this growth can be sustained into Q3.
?This rising confidence goes hand in hand with increasing output, underpinned by the expansion in new business orders, which was the steepest since April 2012. As a result, firms are starting to believe this is the real deal for the recovery, demonstrated by the strongest pace of job creation since December 2011.
?One constraint on the sector is the pressure on suppliers to meet the sharp rise in demand. Suppliers have been surprised by the speed and scale of the revival leading to lengthy delivery times.?
Source: http://www.constructiondigital.com/innovations/survey-shows-uk-construction-industry-on-the-rise
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