Signs of house builders growing optimism

Optimism in the construction industry is at its highest level since the start of the credit crunch in August 2007, a survey of purchasing managers has found. The index from the Chartered Institute for Purchasing and Supply is still at an historically low level, but has been slowly rising since its trough in July 2008. An analyst said it appeared that house builders are returning to new construction as finished and part-completed stock had run out.