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UK Construction Activity Grows Strongly in September but Slower Rises in New Orders and Employment Maintain Uncertainty

However, despite the further strong growth, slower rises in new orders and employment again raised questions about the durability of the upturn.

The Markit/CIPS construction PMI rose to 64.2 in, up September from 64.0 in August, beating economists’ expectations for a slight fall and showing the strongest growth since the six-year peak of 64.6 recorded in January.

Construction PMI shows strongest growth in September since the six-year peak of 64.6 recorded in January
But growth in new orders and employment slowed to a four-month low as builders face sharply rising costs and bottlenecks in the supply of some materials, prompting the most cautious outlook from construction firms in more than a year.

Tim Moore, senior economist at Markit said: ‘Housing activity remains the brightest spot in the construction sector, but its outperformance has started to fade.’

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