UK's construction sector at six months high in January following higher levels of commercial work

Posted on February 16, 2022   |  

• The IHS/Markit construction purchasing managers index (PMI) reached 56.3 in January, up from a three-month low of 54.3 in December, achieving the strongest output growth since July 2021.
• Commercial work increased the most and reached 57.6, with growth accelerating to a six-month high.
• In January, civil engineering returned to growth with a reading of 53.2, although the rebound was weaker than other parts of the construction sector, and house building activity has risen gradually for four months at 54.3.
• Quick rises in raw material prices, energy costs, and transportation bills continued to push up business expenses in the construction sector, but the overall rate of inflation was down to its lowest for 10 months in January.