Real estate

Construction on the rise in wake of election

The construction sector gained momentum in June, as the outcome of May's general election encouraged activity by housebuilders. Markit's purchasing managers' index for the sector rose by 2.2 points to 58.1, far stronger than the expected 0.6 point rise. The Markit survey showed that construction businesses are more optimistic about the coming 12 months than at any time over the past 11 years. However, subcontractor charges rose for a ninth consecutive month as rising demand places mounting strains on the availability of subcontractors and highlights persistent skill shortages.


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