UK construction sees unexpected monthly boost

Growth in Britain’s construction industry unexpectedly touched an eight-month high in November, but its costs rocketed at the fastest pace since 2011, fuelled by sterling’s slump after the June vote to quit the EU, a survey showed yesterday.

The Markit/CIPS UK construction purchasing managers’ index edged up to 52.8 from 52.6 last month, helped by improved readings for commercial and civil engineering activity, as well as growth in house building.

A Reuters poll of economists forecast a reading of 52.2.