Article taken from: finance.yahoo.com
By David Milliken LONDON (Reuters) – British construction activity grew at the fastest pace since 2014 last month, boosted by a restart in postponed hospitality, leisure and office projects as COVID-19 restrictions start to ease, a monthly survey showed on Thursday. The IHS Markit/CIPS construction Purchasing Managers’ Index jumped to 61.7 in March from 53.3 in February, its highest reading since September 2014 and well above the increase to 54.6 forecast in a Reuters poll of economists. […] “Improving confidence among clients in the commercial segment was a key driver of growth, with development activity rebounding in sectors of the economy set to benefit the most from the improving pandemic situation,” said IHS Markit economics director Tim Moore. […] But March’s data also showed a sharp pick-up in commercial activity – such as offices and shop and restaurant refits – and for bigger civil engineering projects. […] Last year the economy as a whole shrank by 9.8%, and construction output – which was less affected by COVID-19 restrictions than other sectors – dropped by 5.9%.
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