The IHS Markit/CIPS UK Construction PMI jumped to 55.3 in June 2020 from 28.9 in the previous month, easily beating market consensus of 47.0. The latest reading signaled the steepest increase in construction output since July 2018, due to the reopening of the UK construction supply chain following stoppages and business closures due to the coronavirus pandemic. Residential construction work expanded by the most in almost five years, while both commercial work and civil engineering activity also returned to growth. Purchasing activity rose at the fastest rate since December 2015 and new business volumes increased marginally amid ongoing hesitancy among clients and longer lead-times to secure new contracts, while employment continued to fall. Looking ahead, business confidence remained historically subdued, but climbed to its highest since February.
Construction Pmi in the United Kingdom averaged 50.99 points from 2008 until 2020, reaching an all time high of 64.60 points in January of 2014 and a record low of 8.20 points in April of 2020. This page provides the latest reported value for - United Kingdom Construction Pmi - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Construction Pmi - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Markit Economics
Construction Pmi in the United Kingdom is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Pmi in the United Kingdom to stand at 55.00 in 12 months time. In the long-term, the United Kingdom Construction Pmi is projected to trend around 50.00 points in 2021 and 51.00 points in 2022, according to our econometric models.