The Markit/CIPS UK Construction PMI survey found that house building activity had grown at its fastest pace for a decade during November 2013. The survey’s activity index increased for the whole construction sector has increased for the seventh month running – from 59.4 to 62.6, despite economists predicting a slowdown to 59.
Tim Moore, senior economist at Markit, noted that the increase had come from a very low base, given the severe damage inflicted upon the construction industry during the recession. Moore notes that the “rebound” has begun after the recession “only really ended this summer.”
This survey (via the Guardian) confirms the findings of many other recent studies in the area. Those in the construction sector will be likely to have experienced many signs of growth first hand. Fuel duty freezes and caps on business rates will also go some way to increasing the optimism of SMEs.
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