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Construction industry upbeat over year ahead

Construction Worker,Large Growth seen in Construction Industry in 2015 - SantanderCB

The British construction industry ended 2015 on a robust note, according to the latest Markit/CIPS purchasing managers' index, which rose to 57.3 in December from 55.3 the previous month. Commercial construction was the best performer, with housing activity also increasing solidly, though at a slower rate than in 2014. Hiring also bounced back, with subcontractor usage rising at its fastest pace since August 2014. David Nobel, chief executive of the Chartered Institute of Procurement & Supply, said the outlook for 2016 looked strong. Max Jones, construction director at Lloyds Bank Commercial Banking, said infrastructure in particular looked 'well placed', with a number of flagship projects such as the Thames Tideway tunnel and Hinkley Point nuclear power station set to break ground.

 

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