Construction accelerates in May

Published:  02 June, 2010

LONDON: The construction sector expanded in May at its fastest pace since September 2007, with employment rising for the first time in two years, a survey of purchasing managers showed on Wednesday.

The Markit/Chartered Institute of Purchasing and Supply construction PMI rose to 58.5 in May from 58.2 in April.

May was the third consecutive reading above the 50 mark which separates growth from contraction.

Sarah Ledger, an economist at Markit said: "It was encouraging to see growth within the UK construction sector maintained during May, with all three sub-sectors, housing, commercial and civil, indicating an expansion in activity."

But Ms Ledger warned that an impending public spending squeeze meant it was unlikely the current rate of growth would be maintained.

Construction accounts for around 6% of Britain's economic output.

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