Markit/CIPS survey suggests solid growth in construction in July, was growth that solid?
The latest Markit/CIPS PMI construction survey provides on the face of it reasons to be content if not cheerful in these days when gloomy news is served so liberally. Its monthly PMI indicator for July read 53.5 against 53.6 in June. This suggests sound if not spectacular growth (see the graph taken from the press release (pdf)), which seems rather at odds with the more downbeat noises coming from across the industry.