Sharp pick-up in UK construction amid rapid economic recovery

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Sumary of Sharp pick-up in UK construction amid rapid economic recovery:

  • Britain construction sector has had its sharpest pick-up in activity since 2014 amid signs that the domestic economy is recovering more quickly than Brexit- and pandemic-affected trade flows, new figures have shown..
  • The latest snapshot of the construction sector, which accounts for around 6% of total UK output, pointed to an across-the-board increase in March, with house-building, commercial projects and infrastructure work all displaying strong growth..
  • Despite the Covid-19 lockdown the IHS Markit/CCips construction activity index registered 61.7 in March, up from 53.3 in February and well above the 50 level that marks whether the sector is expanding or contracting..
  • “March data revealed a surge in UK construction output as the recovery broadened out from house building to commercial work and civil engineering..
  • “Total activity expanded to the greatest extent for six-and-a-half years as residential spending remained robust, commercial projects restarted and infrastructure contract awards moved ahead.”.
  • Britain is France fifth biggest export market and the value of the goods crossing the Channel dropped from €2.7bn (£2.3bn) to €2.1bn in January as red tape and tighter lockdown restrictions combined to choke off trade….

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