British construction index bounces back in August
Biggest jump since 2013 after Brexit sparked July slump
A British construction index surged in August from a Brexit-induced seven-year low as activity picked up across the board.
Markit Economics said its Purchasing Managers Index jumped to 49.2 from 45.9 in July, the biggest monthly gain since November 2013. Economist had expected a lower figure of 46.3. The index is still below the 50 mark which signals growth, however.
The data add to evidence that the economy is weatheringthe shock decision to leave the European Union and may fuel speculation that the Bank of England will refrain from adding to its August stimulus package in the coming months.
