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Financial News: UK Construction Sector Rebounds In April

UK Construction Sector Rebounds In April

05/02/2018 - 04:52:00 (RTTNews)

(RTTNews) - UK construction sector rebounded in April from the weather-related disruptions seen in March, survey data from IHS Markit showed Wednesday.

The Markit/Chartered Institute of Procurement & Supply construction Purchasing Managers' Index rose to 52.5 in April from a 20-month low of 47.0 in March. The latest reading was the highest since November 2017 and well above the forecast of 50.5.

Residential work was by far the best performing category of construction activity in April. Weather-related improvements were also seen for commercial building and civil engineering activity.

April's data provides some relief after last month's weather disruption, Duncan Brock, group director at the CIPS, said. "However, economic uncertainty and Brexit-related indecision continue to lurk beneath the surface as obstacles to the construction sector's stability."

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