UK PMI Construction rose from 51.1 to 51.6 in May, above expectation of 50.9. S&P Global noted that total activity increased at the fastest pace for three months. Growth was driven by commercial and civil engineering activity. House building, however, fell at the steepest rate since May 2020.
Tim Moore, Economics Director at S&P Global Market Intelligence, said: “May data highlighted a mixed picture across the UK construction sector as solid growth rates in commercial and civil engineering activity contrasted with a steeper downturn in house building….
“Inflationary pressures meanwhile eased considerably May, with purchase prices increasing to the smallest extent since September 2020. Supply chain normalisation helped to moderate cost inflation, as signalled by the strongest improvement in delivery times for construction products and materials for almost 14 years.”
