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British Construction Activity Growth Soars to Hit Six-Month High

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The UK construction activity expanded at its fastest rate in six months in January after posting improved levels of commercial work.

Source: IHS Markit

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Business activity grew for the 12th consecutive month as worries about the Omicron COVID-19 variant started to ease.

The IHS/Markit construction purchasing managers index (PMI) stood at 56.3 in January, an increase from a three-month low of 54.3 in December. It marketed the biggest expansion in output since July 2021.

Even though lead times continued to increase in January, new orders expanded at the fastest rate since August 2021, and input purchases were the strongest for six months as cost pressures weakened.

Commercial work was the best-performing component at 57.6, with growth expanding to a six-month high amid an increase in clients attributable to recovering UK economic conditions.

Survey respondents stated that optimism about the rollback of Covid-19 restrictions had led to higher spending on commercial construction projects.

Civil engineering bounced back to growth in January, with a score of 53.2, even though the rebound was slower than posted in other categories of the construction sector.

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