UK housebuilding grew at its fastest rate in nearly 11-years in July, according to a new survey. The Markit UK Construction PMI report said home building grew at its steepest rate since November 2003, driven by strong demand for new projects and boosted the whole construction sector.

Overall, the index edged down to 62.4, from 62.6 in June. However, anything above the 50 level indicates growth. The report said that construction activity has grown for 15 consecutive months and that last month hiring in the sector grew at its fastest rate since the survey began in April 1997.

Tim Moore, senior economist at Markit said “July’s figures suggest the UK construction sector is enjoying its strongest cyclical upswing since the global financial crisis, while a new record rise in employment highlights that construction firms are increasingly confident about the sustainability of the upturn.”

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