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03.11.2015 10:08 UK construction PMI falls to 58.8 in October

Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. fell to 58.8 in October from 59.9 in September, in line with expectations.

 

A reading above 50 indicates expansion in the construction sector.

 

The index was mainly driven by a strong rise in commercial building work.

 

"Rather than acting as a drag on the economy, as suggested by recent GDP estimates, the sector is continuing to act as an important driving force behind the ongoing UK economic upturn," Senior Economist at Markit, Tim Moore, said.



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