UK construction growth soars
Growth in UK construction rose to a seven-year high in July, new figures have shown.
The seasonally adjusted index of the Chartered Institute for Purchasing and Supply (Cips) reached 61.8 in the month, up from 60.1 in June and the highest reading since April 2000.
Experts had been predicting a fall to 59.0, Sharecast reports.
Cips attributed the rise to an increase in new orders, which was up to 66.8 from 63.4 in June, the highest since May 1997, which offset a drop in house building activity.
This sector dropped to 56.7 from 61.3, the lowest reading since March.
Housing growth prospects for the longer term, however, may be boosted with news of new government plans to build more homes.
These plans will include a proposed loosening of planning regulations, meaning projects to construct new houses can be instigated faster and with less difficulty.
The seasonally adjusted index of the Chartered Institute for Purchasing and Supply (Cips) reached 61.8 in the month, up from 60.1 in June and the highest reading since April 2000.
Experts had been predicting a fall to 59.0, Sharecast reports.
Cips attributed the rise to an increase in new orders, which was up to 66.8 from 63.4 in June, the highest since May 1997, which offset a drop in house building activity.
This sector dropped to 56.7 from 61.3, the lowest reading since March.
Housing growth prospects for the longer term, however, may be boosted with news of new government plans to build more homes.
These plans will include a proposed loosening of planning regulations, meaning projects to construct new houses can be instigated faster and with less difficulty.
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