Construction Sector expanding at fastest pace for 9 months
The BBC has reported that the UK’s construction sector ended 2016 well, expanding at the fastest pace for nine months in December, according to a closely watched survey.
The Markit/CIPS purchasing managers’ index (PMI) rose to 54.2 in December, up from 52.8 the month before. A figure above 50 indicates expansion. However, the sector “continued to experience intense cost pressures”. Markit said that the increase in costs seen last month was the biggest since April 2011.
This came as suppliers passed on the higher costs of imported raw materials.