UK construction spending PMI rises to 55.2 in November

(Sharecast News) - UK construction spending rose to 55.2 in November, according to S&P Global's monthly construction PMI, up from 54.3 in October and ahead of expectations for a reading of 53.4. S&P Global said last month's upturn was principally a result of the strongest rise in commercial work seen for two-and-a-half years. However, residential work declined at the steepest rate since June.

New orders grew for the tenth consecutive month, even though the rate of growth slowed to its weakest since June, while employment rose marginally but job creation slowed to a three-month low. Purchasing activity increased at the slowest pace since May, and supplier performance slumped to its worst level in almost two years.

In terms of prices, input cost inflation accelerated to an 18-month high as a result of rising raw material prices, as well as attempts by certain suppliers to pass on higher staff costs.

Finally, business activity expectations hit their lowest level since October 2023.







Reporting by Iain Gilbert at Sharecast.com