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Sunday 04th of July 2010
July 2, 2010    

UK construction activity holds steady in June

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by Kay Murchie
”UK

The Chartered Institute of Purchasing and Supply(CIPS)/Markit construction PMI index for June remained at around the same pace as May.

The index dipped to 58.4 in June from 58.5 in May - albeit this still represented the highest level since September 2007.

Furthermore, the index is still above the crucial 50 level, which indicates the sector is growing.

“UK construction companies remained optimistic regarding their outlook for future business activity during June. However, confidence fell to the greatest extent in the survey history,” the survey said.

Construction accounts for around 6% of Britain’s economic output.

The index comes just 24 hours after the CIPS/Markit manufacturing PMI revealed UK manufacturing activity slowed from its 15-year high in June.

The closely-watched index dipped from 58 in May to 57.5 in June.

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Tags: Chartered Institute of Purchasing and Supply(CIPS, , construction activity, flat, , , , ,