S&P Global UK Construction PMI Report – August 2024

Solid output growth maintained across UK construction sector in August

S&P Global have published their latest Purchasing Managers’ Index (PMI) report for the UK construction industry:

• Housing activity rose at its quickest pace since September 2022
• Robust upturn in total new orders placed
• Business optimism relatively upbeat

The UK construction sector showed a sustained rebound in activity in August, although the pace of expansion reduced slightly since the previous month. Commercial activity was the best performing segment, with civil engineering activity expanding at a moderate pace that was weaker than in the previous month. 

Residential construction work gained momentum, with growth accelerating to its fastest since September 2022. Improving market conditions and lower borrowing costs supported higher levels of residential housing construction activity.

The UK Construction Activity Index is a key economic indicator for the UK construction industry. The S&P Global UK Services PMI® is compiled by S&P Global from responses to questionnaires sent to a panel of around 650 service sector companies. Sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services.