The construction PMI update today showed that house building activity has grown for a 15th straight month.
Joshua Raymond Chief Market Strategist of cityindex.co.uk provided these comments:
“UK construction PMI slowed more than expected in April but still showed expansion for a twelve consecutive month, maintaining optimism for a strong growth in UK this year.
The fact that UK construction data came in weaker than expected should not distract investors from the fact that it still shows solid construction growth, with a heavy weighting in house building. UK construction contributes roughly 6% of the UK economy and so this report is well received and the consistency of expansion in the sector is great to see".