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Britain continues to see strong growth in June despite rising inflation
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UK economy continues to see strong growth in June despite rising inflation - World News
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Pound Canadian Dollar Exchange Rate Steady as Canadian Retail Sales Fall in April
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UK economy continues to see strong growth in June despite rising inflation
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New orders in the UK construction sector are growing at rates not seen in 24 years although the pent-up demand is putting significant pressure on prices, according to new data.
The closely-followed IHS Markit/CIPS Purchasing Managers Index (PMI) survey also found that raw material prices were increasing with inflation hitting levels not seen since records began in 1997.
Thousands of projects had been delayed due to the Covid crisis but renewed optimism that the pandemic’s end is in sight has seen many restart in earnest.
As a result the PMI recorded a score for the sector of 64.2 in May, anything above 50 is seen as a sector in growth, beating the 61.6 score in April.