UK construction PMI increases in July

Donnerstag, 06. August 2020 10:30

The United Kingdom construction sector activity improved in July, with the headline Construction Total Activity Index standing at 58.1, the IHS Markit said in its report on Thursday.

During the month, the main growth driver was residential building, with its growth increasing to the greatest extent since September 2014. Commercial work and civil engineering also increased at a slightly quicker pace compared to the prior month. Data also showed the fastest rise in new orders since February. However, business confidence moderated in comparison to June, with employment still experiencing a decline.

"Construction companies took another stride along the path to recovery in July as a rebound in house building helped to deliver the strongest overall growth across the sector for nearly five years. Concerns about the pipeline of new work across the construction sector and intense pressure on margins go a long way to explain the sharp and accelerated fall in employment numbers reported during July," economics director at IHS Markit Tim Moore said.

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Breaking the News / MD