UK Construction Industry Grows at Fastest Pace in 14 Months

June 17, 2024
Tom Rees - Bloomberg

Britain’s construction industry expanded at its fastest pace in 14 months in April, adding to confidence the economy is rebounding from a recession.

The construction purchasing managers’ index jumped to 53 in April, up from 50.2 the previous month, S&P Global said Tuesday. It was well above economists’ expectations of 50.4, with any score above 50 signaling growth.

It added to signs that the economy kept expanding in the second quarter after a shallow downturn in the final months of last year. Official data on Friday is expected to show that the gross domestic product returned to growth at the start of 2024, with forecasters predicting a 0.4% gain in the first quarter.



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