UK PMI Construction rose to 64.2 in May, up from April’s 61.6, above expectation of 62.3. The data signaled the strongest rate of output growth for just under seven years.
Tim Moore, Economics Director at IHS Markit: “UK construction companies reported another month of rapid output growth amid a surge in residential work and the fastest rise in commercial building since August 2007. Total new orders increased at the strongest rate since the survey began more than two decades ago, but supply chains once again struggled to keep pace with the rebound in demand.”
