U.K. Construction Sees Strong Growth

(RTTNews) - U.K. construction activity increased during May for a third successive month, fresh data has suggested. The Chartered Institute of Purchasing & Supply / Markit construction purchasing managers' index rose slightly to 58.5 in May from 58.2 in April. A reading above 50 indicates expansion while one below suggests contraction.

This marks the highest level in the headline PMI since September 2007. A rise in new orders drove the increase in activity, and also led to an increase in employment. All three of the construction sectors registered growth during May.

Housing construction activity picked up during May while commercial activity growth slowed. Civil engineering activity grew for the first time in two years. Employment within the U.K. construction industry also rose in May - the first increase recorded since May 2008.