Housebuilding jumps as Brexit fears fade.
September housebuilding rose at the fastest pace since January, some developers also reported resilient demand and a general improvement in market conditions.
The surge in residential activity helped the construction sector see returning growth last month, with the purchasing managers index (PMI) reporting growth for the first time in four months.
The PMI reading of 52.3 for the month of September, was comfortably above the 50 score which represents stagnation. It was also above the 49.2 recorded in August and well ahead of the 49 expected by economists.
Tim Moore, senior economist at IHS Markit and author of the index, said: “UK construction companies moved back into expansion mode during September, led by a swift recovery in residential building from the three-and-a-half year low recorded in June.
“Resilient housing market conditions and a renewed upturn in civil engineering activity helped to drive an overall improvement in construction output volumes for the first time since the EU referendum.
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