latest PMI survey shows a slowdown in the UK construction industry

Markit/CIPS UK Construction PMI released yesterday tuesday 2nd August headlined ‘UK construction output falls again in July, but new orders decrease at slower pace’

The Markit/CIPS purchasing managers’ index (PMI) dipped to 45.9 in July, down slightly from the figure for June, and well below 50, which indicates market growth.

According to the report, the figure reflects the construction industry shrinking at its fastest pace since June 2009.

July data signalled a further downturn in UK construction output, but the rate of contraction was only fractionally faster than that seen during the previous survey period. At the same time, new order volumes dropped at a slower pace than the three-and-a-half year low seen in June.

To read the seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index (PMI ) released yesterday in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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