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- August data pointed to a renewed slowdown in output growth across the UK construction sector - Markit
August data pointed to a renewed slowdown in output growth across the UK construction sector - Markit
August data pointed to a renewed slowdown in output growth across the UK construction sector, with all three broad categories of activity recording a loss of momentum since the previous month. That said, there were signs of resilience in terms of underlying workloads, with the latest survey signalling another solid upturn in new business. Employment growth meanwhile held close to the two-and-and-a-half year peak seen in July. Rising demand for construction inputs meant that stretched supply chain capacity continued during August, as highlighted by the greatest lengthening of vendor lead-times since March 2015.
At 52.9 in August, the seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers' Index (PMI) eased from July's 14- month peak of 55.8, but remained above the crucial 50.0 no-change mark. The latest reading signalled a moderate overall rise in construction output, with the rate of expansion the weakest since May.
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