UK PMI Construction dropped from 59.1 to 58.2 in April, above expectation of 58.0. S&P Global said new work had the weakest rise since December 2021. Total construction output expanded at slower pace. Growth projections eased to lowest since September 2020.
Tim Moore, Economics Director at S&P Global said: “The construction sector is moving towards a more subdued recovery phase as sharply rising energy and raw material costs hit client budgets. House building saw the greatest loss of momentum in April, with the latest expansion in activity the weakest since September 2021. Commercial and civil engineering work were the most resilient segments, supported by COVID-19 recovery spending and major infrastructure projects respectively.”
