May 2018 UK Markit/CIPS construction PMI 04 June 2018
- Prior 52.5
- New business growth slips back into decline amid general uncertainty towards outlook
- Input price pressures sharpen on the back of higher fuel and steel costs
Sam Teague at Markit says;
“The May PMI data signalled an unchanged pace of activity growth across the UK’s construction sector since April’s somewhat underwhelming rebound, yet nevertheless indicating a recovery in the second
quarter after the contraction seen at the start of the year.“However, activity in May was once again buoyed by some firms still catching up from disruptions caused by the unusually poor weather conditions in March, and a renewed drop in new work hinted that the recovery could prove short-lived.”
The good thing is that it’s held up well since the weather related drop and recovery. This index was hovering around contraction without the weather.