UK PMI Construction rose to 52.6 in February, up from 48.4, beat expectation of 49.0. That’s the first expansionary reading since April 2019. Markit said housing and commercial work underpinned the rebound in activity. New orders increased at fastest pace since December 2015. Staffing levels were also close to stabilization.
Tim Moore, Economics Director at IHS Markit, which compiles the survey: “February’s survey data adds to signs that the UK construction sector has started to rebound after a downturn through the second half of last year.. But “the fly in the ointment is the uncertain impact of the coronavirus outbreak on UK economic growth prospects. A renewed slowdown could see domestic investment spending put back on hold and dampen the outlook for the UK construction sector.”
