UK construction sector unexpectedly boosted growth in October

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The purchasing managers index in the UK construction sector rose in October to 53.2 points from 52.1 points in the previous month, according to IHS Markit. The growth of the construction sector was a surprise for economists, who had expected it to decline to 52 points. The increased recovery in civil engineering contributed to its growth. The expansion of the construction sector has been observed since April of this year, however PMI still has not reached a long-term average of 54.3 points. Such factors as the growth of new contracts and work abroad had a positive impact on the indicator. In addition to the strongest growth in civil engineering since July 2017, growth in October was also noted in the construction of houses and commercial real estate.

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