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UK construction grows at fastest pace in over a year

Published 07/05/2024, 11:56
© Reuters.  UK construction grows at fastest pace in over a year

Proactive Investors - Output from the UK's construction industry grew at its fastest pace in over a year, adding to signs the UK economy is improving.

S&P Global's UK construction PMI, which measures the industry's output every month, came in at 53 in April, improving from 50.2 the month prior and remaining above the 50 mark which separates indicates whether the sector is in decline or is expanding.

While the research found the sector was at its highest output in 14 months, the survey also indicated the housebuilding slowed at its worst rate since January.

Tim Moore, economics director at S&P Global, said: "Commercial construction outperformed in April and civil engineering also provided a solid contribution to overall growth.

"Lacklustre market conditions in the house building segment continued to weigh on activity."

Read more on Proactive Investors UK

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