UK PMI Construction fell to 52.2 in June, down from 54.7 in May, and below the expected 54.0. S&P Global highlighted the sharpest rise in employment in ten months, while inflationary pressures remained subdued.
Andrew Harker, Economics Director at S&P Global Market Intelligence, noted that the slowdown, particularly in housing activity, was partly due to “election uncertainty”. He suggested that trends might improve once the election period ends.
Firms remain optimistic about the year-ahead outlook and increased employment significantly. Inflation pressures stayed low, encouraging firms to expand purchasing activity. Stable supply-chain conditions also supported this positive trend..
Full UK PMI construction release here.
