U.K. construction adds to strong economic picture

|By:, SA News Editor

U.K. construction activity unexpectedly increased to its highest level in six years in August as PMI rose to 59.1 from 57 in July and topped consensus of 56.8.

There was "robust expansion" in all three sub-sectors: house building, commercial growth and civil engineering.

"Builders have seen a step change in recent months and are now starting to show their true potential to the U.K. economy," says the Chartered Institute of Purchasing & Supply.

The construction PMI adds to strong manufacturing PMI.

The pound is +0.2% at $1.5569, although the FTSE 100 is -0.6%. (PR)

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