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7/6, 10:46 AM (Source: TeleTrader)
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UK construction sector activity hits 2-year high in June

The United Kingdom construction sector activity index beat estimates and jumped in June compared to the results recorded a month earlier, according to data released in an IHS/CIPS Markit report on Monday. The UK Construction Total Activity Index landed at 55.3, marking a 26.4-point month-on-month growth and the best result since July 2018.

Residential construction in June recorded the best results in nearly five years, with 46% of survey respondents noting an increase in activity, followed by commercial work and civil engineering, both of which returned to growth.

Tim Moore, Economics Director at IHS Markit stated: "As the first major part of the UK economy to begin a phased return to work, the strong rebound in construction activity provides hope to other sectors that have suffered through the lockdown period. While it has taken time for the construction supply chain to adapt and rebuild capacity after widespread business closures, there is now clear evidence that a return to growth has been achieved."

Breaking the News / BU