Bulletin

Housebuilding lifts slow sector

Housebuilding helped boost UK construction activity last month, but the sector is expanding at a slower pace than it was a year ago. The Markit/CIPS construction purchasing managers' index rose to 57.3 in August, up from 57.1 last month. Tim Moore, a senior economist at Markit, said companies remained on a 'reasonably strong growth footing', pointing out that demand for both staff and subcontractors is picking up. However expansion has slowed considerably since the beginning of last year when the index often showed 60 or above. In the second quarter, the construction sector had quarter-on-quarter growth of just 0.2%. Howard Archer, chief UK economist for IHS Global Insight, said that the 'decent' August result suggested construction should make a bigger contribution to growth in the third quarter.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

Other Articles

GoJumpIn

The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…

Bulletin
Food and drink exporting opportunities in the UAE

Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…

Bulletin

According to DIT, of the 2.5 million businesses registered in the UK, an estimated 360,000 who have an exportable product or service…

Bulletin
GoJumpIn

The sky is seemingly the limit for a company which has got us all jumping with excitement as they secure a Santander funding deal to make…

Bulletin
Food and drink exporting opportunities in the UAE

Richard Cuda, Director - Strategic Banking Alliances, International, Santander UK says UK food and drink manufacturers should seriously…

Bulletin

According to DIT, of the 2.5 million businesses registered in the UK, an estimated 360,000 who have an exportable product or service…

Bulletin

Where Next?