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Monday, June 14, 2021

UK April construction PMI 61.6 vs 62.1 expected

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Latest data released by Markit – 7 May 2021

The report continues to underscore a strong increase in construction output with commercial work leading the recovery. Meanwhile, the pace of growth in civil engineering work was the quickest since September 2014.

Markit notes that:

“The UK construction sector is experiencing its strongest
growth phase for six-and-a-half years, with the recovery
now evenly balanced across the house building, commercial
and civil engineering categories.

“New orders surged higher in April as the end of lockdown
spurred contract awards on previously delayed commercial
development projects. This added to the spike in workloads
from robust housing demand and the delivery of major
infrastructure programmes such as HS2.

“Shortages of construction materials and much longer wait
times for deliveries from suppliers were a sting in the tail for
the sector. Aggregates, timber, steel, cement and concrete
products were all widely reported as in short supply by
survey respondents.

“Supply and demand imbalances for construction items,
alongside higher transport costs, resulted in severe price
pressures across the board during April. The overall rate of
input cost inflation reached its fastest since data collection
began 24 years ago, exceeding the previous record seen at
the top of the global commodity price cycle in 2008.”

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