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- Latest PMI data signalled only a modest improvement in UK construction activity midway through the second quarter
Latest PMI data signalled only a modest improvement in UK construction activity midway through the second quarter
Latest PMI data signalled only a modest improvement in UK construction activity midway through the second quarter, with the pace of expansion matching that registered in April. Commercial activity growth accelerated to a threemonth high in May; however, softer expansions in both residential and civil engineering activity were recorded. Furthermore, new order books contracted for the fourth time in the past five months amid general uncertainty in the sector.
At 52.5 in May, the seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers' Index (PMI) remained unchanged since April. The figure was indicative of a moderate increase in total activity, albeit one that was subdued in the context of historical data.
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