The UK's construction industry appears to be in the early stages of a 'strong recovery”, a closely watched survey has suggested. Last month the sector grew at its fastest pace in more than two years as it experienced a rebound in new housing projects, according to the poll by S&P Global. It came following a slight slowdown in June, which was blamed on cautious firms being reluctant to commit to major projects while they awaited the outcome of the general election.
The fastest increase was in civil engineering, which experienced the sharpest growth for two-and-a-half years, while new housing projects also returned to growth following a recent slump amid high interest rates. It comes as the new government aims to encourage the building of new homes via a shake-up of the planning system.