Optimism among British construction companies has risen to its highest level in two years.
The S&P Global purchasing managers’ index for the sector rose for the third month in a row in January to 48.8. The figure is up from 46.8 in December but remains below the 50-point threshold that separates growth from contraction.
Housebuilding output continued to fall sharply at the start of the year, linked to subdued demand for homes, while mortgage rates remain elevated. Even so, the subsector reading was 44.2 in January, the highest since March last year.
