UK PMI Construction dropped to 54.6 in August, down from July’s 58.1. Markit said subdued order books held back output growth. House building remained the best performing category. Business expectations reached six-month high on hopes of a boost from infrastructure work.
Tim Moore, Economics Director at IHS Markit: “The latest PMI data signalled a setback for the UK construction sector as the speed of recovery lost momentum for the first time since the reopening phase began in May…. Another month of widespread job shedding highlighted the ongoing difficulties faced by UK construction companies, with order books often depleted due to a slump in demand from sectors of the economy that have experienced the greatest impact from the pandemic.”
