This charts shows the latest Construction PMI reading for the UK.
The reading just hit 62.4, as output rose at its fastest pace in 10 years.
This is consistent with all of the anecdotal stories about London being filled with cranes and high-end condos.
Here’s more on the joyous mood in the UK construction sector:
Construction companies pointed to a steep and accelerated expansion of house building activity in November, with the rate of growth the fastest for 10 years. Work on commercial construction projects also increased sharply during the latest survey period, and the rate of expansion was the steepest since September 2007. Civil engineering activity increased at a robust pace that was little-changed from that recorded in October. Anecdotal evidence from survey respondents widely pointed to more favourable business conditions in November, with rising confidence in the economic outlook and improving credit conditions helping to boost spending across the construction sector. As a result, volumes of new work increased at a strong and accelerated pace, with the latest rise in new orders the joint-sharpest for just over six years.
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