UK PMI Construction dropped slightly to 54.6 in December, down from 54.7, matched expectations. Markit noted that output expansion maintained for the seventh month in a row. Employment returned to growth amid strong rise in new orders. Supply shortages pushed up input costs.
Tim Moore, Economics Director at IHS Markit: “December data illustrated a positive end to the year for the UK construction sector, mostly fuelled by a sharp rebound in house building. Overall output growth has slowed in comparison to the catch-up phase last summer, but now it is encouraging to see the recovery driven by new projects and stronger underlying demand.”
