5 Jan 2016
UK construction PMI rebounds in December, comes in at 57.8
FXStreet (Mumbai) - Construction sector performance rebounds in December supported by commercial building activity. Construction PMI in December came in at 57.8, higher than 56.0 expected by markets. The PMI was up from a seven-month low of 55.3 recorded in November. Commercial construction increased at the fastest pace since October 2014.
Today’s data signalled a robust and accelerated increase in new business volumes in this sector. This in the process increased hiring among construction companies during December, with the rate of employment growth rebounding from the 26- month low recorded in November.
The latest survey highlighted the second-fastest increase in purchasing activity since January 2015.
Construction PMI in the UK averaged 51.84 from 2008 until 2015. It reached an all-time high of 64.60 in January of 2014 and a record low of 27.80 in February of 2009.
Today’s data signalled a robust and accelerated increase in new business volumes in this sector. This in the process increased hiring among construction companies during December, with the rate of employment growth rebounding from the 26- month low recorded in November.
The latest survey highlighted the second-fastest increase in purchasing activity since January 2015.
Construction PMI in the UK averaged 51.84 from 2008 until 2015. It reached an all-time high of 64.60 in January of 2014 and a record low of 27.80 in February of 2009.