Construction enjoys boost
The Markit/Chartered Institute of Purchasing and Supply construction PMI rose to 58.5 in May from 58.2 in April. May was the third consecutive reading above the 50 mark which separates growth from contraction.
"It was encouraging to see growth within the UK construction sector maintained during May, with all three sub-sectors – housing, commercial and civil – indicating an expansion in activity," said Sarah Ledger, an economist at Markit.
However, the public spending squeeze meant it was unlikely the current rate of growth would be maintained. Construction accounts for around six per cent of UK economic output.