The IHS Markit/CIPS UK Construction PMI rose to 53.3 in February 2021, up from 49.2 in the previous month and well above market expectations of 51.0. The latest reading signaled a solid increase on overall construction output as project starts increased in anticipation of improving UK economic conditions in 2021. The slowdown in house building was more than offset by the sharpest rise in commercial work since last September and a slower fall in civil engineering activity. Overall new orders increased for the ninth consecutive month, amid improving demand across a range of sources, including residential development, new opportunities in the commercial segment and public sector infrastructure spending. In addition, the rate of job creation was the fastest since March 2019. On the price front, average cost burdens across the sector rose the most since August 2008. Looking ahead, business optimism hit a five-year high. source: Markit Economics
Construction PMI in the United Kingdom averaged 51.16 points from 2008 until 2021, 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 March of 2021.
Construction PMI in the United Kingdom is expected to be 51.00 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 50.00 in 12 months time. In the long-term, the United Kingdom Construction PMI is projected to trend around 51.00 points in 2022, according to our econometric models.