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UK construction output grows in Q2 despite housing activity decline

UK construction output grows in Q2 despite housing activity decline

Posted on July 5, 2024   |  

The UK construction sector maintained growth into Q2, despite a slowdown in housing activity.

June's S&P Global UK Construction PMI fell to 52.2 from May's 54.7 but remained above the 50.0 mark for the fourth consecutive month.

Commercial activity continued to drive growth significantly, while housing construction declined following a brief uptick in May.

Despite a slight slowdown in new orders, construction firms increased hiring for the second straight month, with job creation rates reaching their highest since August.

Use of sub-contractors continued to rise steadily for three months, supported by improved availability, which saw its largest increase in nine months.

Increased new orders prompted firms to step up purchasing for the second month in a row, maintaining similar growth rates as in May.

Supply chain pressures were minimal, with vendor delivery times shortening for the sixteenth consecutive month, while input costs rose slightly due to higher raw material prices, though still below average levels.



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