UK construction activity beat investor expectations in February to register its highest growth rate in nine months as an improving global outlook boosted commercial projects.
The S&P Global/Cips UK construction purchasing managers’ index, which measures monthly changes in total industry activity, registered 54.6 in February, up from 48.4 in January.
The reading published on Monday was stronger than the 49.1 forecast by analysts in a Reuters poll and above the 50 mark that indicates a majority of businesses reporting an expansion. It was also the highest since May 2022.
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