Economic news

UK's construction sector returns to growth

British building activity surprisingly increased slightly last month, a survey showed on Thursday, but confidence among companies in the industry fell to the lowest level in nearly five years.

While the IHS Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) climbed to 50.8 from 48.1 in September, that still showed a very weak expansion.

According to official data, construction production reduced in the second and third quarters of 2017, so the sluggish PMI is unlikely to change the vision of Bank of England policymakers who are widely expected to increase interest rate on Thursday.


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