According to a study by IHS Markit, the UK construction sector saw growth again in November, thanks to the largest increase in new orders since 2014. This was indicated by the corresponding index of business activity, the value of which increased to 54.7 points last month from the October level of 53.1 points.
The growth of the index came as a surprise to experts, as they predicted its fall to 52 points. It is reported that the expansion of the construction sector has been observed in the country for 6 months.
All 3 key construction categories grew in November. Growth in housing construction continued in November, albeit at a slow pace.
The civil engineering industry returned to growth after declining a month earlier. Commercial construction has increased at the slowest pace in six months.
The new construction business showed the highest growth rates since October 2014 last month. The increase in production costs was the highest since April 2019. The pace of job cuts slowed down significantly.