UK construction sector resumed its growth again in April, that construction PMI returning to a positive range of 52.5 points after stabilizing near its 20 month low.
Sterling rose on Wednesday, extending gains from earlier in the day as better than expected construction PMI data calmed investors after a selloff that took the currency five percent lower against the dollar in two weeks. The main reason for the growth of the construction sector is the improvement in the construction of residential homes and commercial buildings, where home construction has seen the strongest rebound since long periods of time.
The construction sector recorded the best pace of growth in five months. But IHS Markit said the construction sector’s difficulties in recent months has clearly been influenced by economic, political and Brexit uncertainties fuelling clients’ caution over committing to new projects.
