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- November data pointed to a moderate rebound in UK construction output - Markit
November data pointed to a moderate rebound in UK construction output - Markit
November data pointed to a moderate rebound in UK construction output, with business activity rising at the strongest rate since June. New orders and employment numbers also increased to the greatest extent in five months. However, the improvement in construction growth was largely confined to residential work. The latest survey revealed sustained reductions in commercial building and civil engineering, with the latter now experiencing its longest period of decline since the first half of 2013.
Adjusted for seasonal influences, the IHS Markit/CIPS UK Construction PMI picked up from 50.8 in October to 53.1 in November, to remain above the 50.0 no-change value for the second month running. The latest reading was the highest for five months and signalled a solid rate of business activity growth across the construction sector.
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