Improved demand for construction materials resulted in longer lead times from suppliers and the most marked increase in input prices since September 2017. The seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI®) posted 53.1 in June, up from 52.5 in May and above the 50.0 no-change value for the third month running. The latest reading pointed to the sharpest overall rise in construction output since November 2017.
UK construction output growth reaches seven-month high in June
June data revealed a solid expansion of overall construction activity, underpinned by greater residential work and a faster upturn in commercial building. There were also positive signs regarding the near-term outlook for growth, as signalled by the strongest rise in new orders since May 2017 and the largest upturn in input buying for two-and-a-half years.
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