The S&P Global/CIPS UK Construction PMI rose to 51.6 in May 2023, above May's reading and market expectations of 51.1. Although indicative of only modest growth, the latest PMI pointed to the strongest upturn in total construction activity since February, driven by faster rises in commercial building and civil engineering activity. Total new business increased the most since April 2022, despite weakness in the house building sector and worries about the impact of higher interest rates. In addition, employment rose for the fourth month in a row, while average lead times for the delivery of construction products and materials shortened to the greatest extent since August 2009, due to to fewer logistics bottlenecks, alongside an improved balance between demand and supply. On the price front, purchasing price inflation was the lowest for over two-and-a-half years. Finally, business confidence slipped to a four-month low amid concerns about the UK economic outlook. source: Markit Economics
Construction PMI in the United Kingdom averaged 51.72 points from 2008 until 2023, reaching an all time high of 66.30 points in June of 2021 and a record low of 8.20 points in April of 2020. This page provides the latest reported value for - United Kingdom Construction Pmi - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Construction PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Construction PMI in the United Kingdom is expected to be 51.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.