Residential work expands at fastest pace in almost 2 yrs (Il Sole 24 Ore Radiocor) - London , 05 Sep - In August, the UK's purchasing managers' index for the construction sector fell to 53.6 from a 26-month high of 55.3 in July, but still signalled a solid expansion of overall construction activity, according to data released by S&P Global.

A reading below 50 signals a contraction in sector activity, while one above an expansion.

"The UK construction sector appears to have turned a corner after a difficult start to 2024, with renewed vigour in the house building segment the most notable development in August," commented Tim Moore, economics director at S&P Global Market Intelligence. "Residential work expanded at the fastest pace for almost two years as lower borrowing costs and a gradual recovery in market conditions helped to boost activity.".

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(RADIOCOR) 05-09-24 10:50:02 (0223) 5 NNNN