UK PMI Construction rose from 54.6 to 55.5 in November, above expectation of 52.0. Markit noted recovery was led by robust and accelerated rise in commercial work. Numbers of firms reporting suppliers delays continued to ease. In put costs inflation dipped to seven-month low.
Tim Moore, Director at IHS Markit: “November data highlighted a welcome combination of faster output growth and softer price inflation across the UK construction sector…. Input price inflation remains extremely strong by any measure, but it has started to trend downwards after hitting multi-decade peaks this summer… Port congestion and severe shortages of haulage capacity were again the most commonly cited reasons for longer lead times for construction products and materials.”
