The construction sector expanded last month at its fastest rate in nearly seven years as the lifting of lockdown restrictions led to a surge in new orders.
The IHS Markit/CIPS construction purchasing managers’ index rose from 61.6 to 64.2, its highest level since September 2014 and above economists’ forecasts of 62.3.
Growth was driven by the housebuilders as orders continued to rise in a booming property market. Latest official data suggests that house prices rose by a record 10 per cent last month. This was followed by a rise in commercial work, which expanded at its sharpest pace since August 2007.
“Construction companies reported another month of rapid output growth amid a surge in residential work and the fastest rise in commercial building since August...