The Chartered Institute of Purchasing and Supply (CIPS)/Markit construction purchasing managers’ index (PMI) has today revealed UK construction activity eased slightly in March.
The PMI edged lower to 56.4 in March, from February’s 8-month high of 56.5 – albeit better than forecasts of 54.8.
However, the index remains above the crucial 50 mark, which indicates expansion.
Commenting on the report, Sarah Ledger, Economist at Markit and author of the UK Construction PMI said: “UK construction companies reported a strong end to the first quarter, with activity rising at a similar pace to the eight-month high recorded in February.”
Construction accounts for around 6% of Britain’s economic output.