Scaffolders work on a construction site in London, Britain, October 20, 2021. REUTERS/Toby Melville
December 6, 2021
LONDON (Reuters) – Growth in Britain’s construction industry hit its strongest pace in four months in November after a slowdown caused by global supply chain problems and labour shortages, while soaring inflation pressures abated, a survey showed on Monday.
The IHS Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) rose to 55.5 last month from 54.6 in October.
Commercial building led the way as a recovery in the economy led to new projects and infrastructure work also helped to offset a slight slowdown in house-building.
A measure of input costs fell to a seven-month low.
The all-sector PMI – a combined reading of November’s manufacturing, services and construction surveys – edged down to 57.4 from October’s 57.5, which was the highest since July.
(Reporting by William Schomberg; Editing by Toby Chopra)
Source: One America News Network
