- Prior 62.6
- Housing index 64.4 vs 62.1
Slightly off from expectations and lower than last month but it’s still showing good expansion.
Cable got a little excited ahead of the number shooting up to 1.6664 but has fallen back to 1.6644
There were sharp gains in residential building which is something that the government and BOE will be keeping any eye on for any acceleration in house prices.
“House building reclaimed its place as the main driving force behind the resurgent UK construction sector in March, following some weather-related disruptions during the previous month. The rise in residential construction was one of the sharpest experienced over the past ten years, helped by strong demand for new development projects and supportive funding conditions. However, the latest survey does little to dispel concerns that supplier capacity will become a fly in the ointment. Lead-times for the delivery of construction materials lengthened in March by one of the greatest amounts since the survey began in April 1997, while sub-contractor availability fell at the fastest rate for thirteen-and-a-half years.” Said Tim Moore at Markit
UK MarkitCIPS construction PMI 02 04 2014
