UK Construction Continues Growth in September

Britain’s construction industry maintained its five-month run of strong growth in September, according to the CIPS/Markit survey of purchasing managers in the sector.

Markit said construction companies ended the third quarter of 2013 with “a strong expansion of overall output levels and a further improvement in their new order books”.

A slight dip in growth from a soaring month of expansion in August failed to dent confidence in industry boardrooms for the year ahead. The degree of positive sentiment was the highest since April 2010.

Higher-than-expected order books also boosted employment numbers for the fourth consecutive month. Job creation reached its fastest for just under six years.

Much of the growth came from private housebuilding, which has grown strongly over the last year in response to the government’s Help to Buy deposit guarantee for new homes and is now rising at its fastest rate since 2003. The Bank of England’s Funding for Lending scheme, which has cut mortgage rates, is also credited with increasing the supply of cheap credit.

via The Guardian

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