The IHS Markit UK Construction PMI fell to 44.4 in December of 2019 from 45.3 in November, well below market expectations of 45.9. The reading pointed to the 8th straight month of falling construction, amid political uncertainty and subdued client demand ahead of the general election. Yet, in 2019, only April and January saw small rises in construction, making the current period of falling business activity across the construction sector the longest recorded by the survey for almost a decade. Civil engineering was the worst-performing category, with activity falling at the fastest pace since March 2009. On the other hand, job shedding softened and input cost inflation was the lowest since February of 2010. Finally, business confidence rebounded to a nine-month high, as greater clarity in relation to Brexit had the potential to boost order books in 2020. Construction Pmi in the United Kingdom averaged 51.50 points from 2008 until 2019, reaching an all time high of 64.60 points in January of 2014 and a record low of 27.80 points in February of 2009. source: Markit Economics

Construction Pmi in the United Kingdom is expected to be 49.10 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Pmi in the United Kingdom to stand at 52.10 in 12 months time. In the long-term, the United Kingdom Construction Pmi is projected to trend around 53.60 points in 2020, according to our econometric models.

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United Kingdom Construction Pmi

Actual Previous Highest Lowest Dates Unit Frequency
44.40 45.30 64.60 27.80 2008 - 2019 points Monthly
NSA


News Stream
2019-12-03
UK Construction Output Falls Less than Expected
The IHS Markit/CIPS UK Construction PMI rose to 45.3 in November 2019 from 44.2 in October and above market expectations of 44.5. The latest reading pointed to the slowest drop in overall construction output for four months, as housing activity contracted at a much softer pace. Overall new orders fell for the eight consecutive month, the longest phase of decline since 2012-13, on subdued client confidence and ongoing hesitancy to commit to new projects. In addition, purchasing activity continued to decrease, as well as employment due to cost-cutting efforts and the non-replacement of voluntary leavers. On the price front, input cost inflation remained the among the lowest seen since early-2016. Looking ahead, the degree of business optimism was little-changed since October, amid concerns about the domestic economic outlook and political uncertainty.

2019-11-04
UK Construction Output Falls at Softer Rate
The IHS Markit/CIPS UK Construction PMI rose to 44.2 in October 2019 from 43.3 in the previous month and slightly above market expectations of 44.0. Still, the latest reading remained close to the ten-year low seen in June, as domestic political uncertainty and the economic slowdown continued to weigh on demand. Civil engineering works contracted at the sharpest pace since October 2009 and house building also decreased at a faster rate. At the same time, commercial construction fell for the tenth month running, but at the slowest rate since May. Overall new orders dropped for the seventh month in a row, resulting in another fall in employment. On the price front, input cost inflation was the lowest for three-and-a-half years. Looking ahead, business confidence remained among the weakest seen since 2012.

2019-10-02
UK Construction Output Shrinks for the 5th Month
The IHS Markit/CIPS UK Construction PMI declined to 43.3 in September 2019 from 45 in the previous month and below market expectations of 45. The latest reading pointed to the fifth consecutive month of contraction in the construction sector and the second steepest since April 2009, as new work went down sharply amid Brexit uncertainty and weak demand. Commercial activity was the worst performing area of activity; civil engineering dropped at a similarly steep rate that was the fastest in close to a decade; and residential building fell for the 4th straight month. Buying levels decreased at the fastest pace since January 2010 due to lower operational requirements and increased efforts to contain costs. Also, the job creation rate fell at the strongest pace since December 2010. On the price front, input cost inflation slowed to a 3-1/2-year low. Looking ahead, business sentiment was weak by historical standards, due to competitive pressures, Brexit uncertainty and economic concerns.

2019-09-03
UK Construction Output Contracts Further in August
The IHS Markit/CIPS UK Construction PMI fell to 45.0 in August 2019 from 45.3 in the previous month and below market expectations of 45.9. The latest reading pointed to the fourth consecutive month of contraction in the construction sector, led by the sharpest reduction in new work since March 2009. Commercial work was again the worst performing area of activity due to delayed decision-making among clients amid Brexit-related uncertainty. Meanwhile, employment continued to fall while input buying decreased for the fifth consecutive month, which represents the longest period of decline since the first half of 2013. On the price front, input cost inflation moderated to its lowest since March 2016. Looking ahead, business optimism was the weakest since December 2008, due to domestic political uncertainty and a corresponding drop in client spending.

2019-08-02
UK Construction Sector Remains in Contraction
The IHS Markit/CIPS UK Construction PMI rose to 45.3 in July 2019 from the previous month's ten-year low of 43.1, but below market expectations of 46.0. Commercial construction was the worst performing category, followed closely by civil engineering activity, as Brexit uncertainty continued to hold back work on commercial projects while delays to contract awards for infrastructure work had acted as a headwind to civil engineering. The contraction in house building softened from June's three-year low. Overall new orders dropped for the fourth consecutive month, the longest continuous period of decline since 2016, leading to cuts in employment numbers and a sharp fall in purchasing activity. On the price front, input cost inflation remained high, partly reflecting rising prices for imported items and those in short supply. Looking ahead, business confidence was the weakest since November 2012 due to Brexit uncertainty, the prospect of a General Election and delays to infrastructure work.

2019-07-02
UK Construction Output Falls the Most in Over a Decade
The IHS Markit/CIPS UK Construction PMI plunged to 43.1 in June 2019 from 48.6 in the previous month and well below market expectations of 49.3. The latest reading pointed to the steepest contraction in the construction sector since April 2009, amid heightened political and economic uncertainty. House building dropped the most in three years amid weaker demand conditions and concerns about the outlook for residential sales. In addition, commercial building projects recorded the steepest fall since December 2009 due to Brexit uncertainty and subsequent delays to project starts, while civil engineering activity shrank the most since October 2009. Total new work received by UK construction companies decreased the most for just over 10 years, while demand for construction products and materials fell at the sharpest pace since January 2010.


United Kingdom Construction Pmi
In the United Kingdom, the Markit / Chartered Institute of Purchasing and Supply Purchasing Managers Index measures the performance of the construction sector and is derived from a survey of 170 construction companies.

United Kingdom Housing Last Previous Highest Lowest Unit
Housing Starts 37220.00 36630.00 69520.00 17120.00 units [+]
Construction Output 2.00 -0.30 24.00 -19.20 percent [+]
Housing Index 412.10 404.58 412.10 45.16 points [+]
Mortgage Approvals 64.99 64.66 151.80 26.36 Thousand [+]
Mortgage Applications 43715.00 41312.00 92238.00 17589.00 Units [+]
Nationwide Housing Prices 429.46 430.37 434.21 98.95 points [+]
Construction Pmi 44.40 45.30 64.60 27.80 points [+]
Construction Orders -6.80 -4.80 37.40 -43.90 percent [+]
Home Loans 4052.00 4312.00 10274.00 -308.00 GBP Million [+]
Home Ownership Rate 65.10 65.00 73.30 63.40 percent [+]