British construction activity grew at the fastest pace in nearly six years in August, driven by residential building, a survey showed on Tuesday, in another sign that the UK's economic recovery is gathering pace. The Markit/CIPS construction purchasing managers index (PMI) rose to 59.1 last month - its highest level since September 2007 - from 57.0 in July, staying far above the 50 threshold for growth for a fourth month. Economists polled by Reuters had expected a slight slowing in the pace of growth. While fears persist that Britain is flirting with a new housing bubble fuelled by government stimulus, the PMI ... (full story)