Construction sector expands at faster pace

The construction sector appears to have gotten a new life line from the resumption of the stalled projects and the availability of new ones as industry stakeholders expressed confidence for the sector in the period ahead.

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The Purchasing Managers’ Index (PMI) for the sector recorded an index value of 61.1 for August, slightly higher than the 60.0 in July, signalling expansion in the activity at a slightly faster level.

This was the highest from over a year as the last time the sector had a higher index value was in July 2024 when it read at 62.9 index points.

What underpinned this growth in August was the fact that the projects, both stalled ones as well as new ones, are coming back again.