Construction sector growth hits three year high

Growth in the construction sector has reached its highest level for over three years as the demand for residential property propels the market forward, it has been advised.

The Chartered Institute for Purchasing and Supply (CIPS) has said that its latest index saw construction activity up 2.1 to 60.1 in June, with housing activity rising to 61.3.

Such figures represent the highest such levels since November 2003 and December 2003 respectively, the organisation suggested.

"Buoyancy in the sector is being fuelled by a marked rise in the number of incoming new orders, and an increase in demand for residential buildings," noted CIPS director of professional practice Roy Ayliffe.

Earlier this week it was reported that a growing number of Britons began construction start-up businesses in the first quarter of 2007.


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