United Kingdom Construction PMI

The S&P Global UK Construction PMI fell to 54.3 in October 2024 from 57.2 in September, below expectations of 55.5, though still signaling expansion above the neutral 50 mark for an eighth month. New orders rose solidly but at a slower pace than September’s peak, held back by political uncertainty and lower household spending. Despite a dip in overall business confidence, companies expanded hiring, with job growth reaching a three-month high. Purchasing activity increased marginally, reflecting greater workloads but marking the slowest expansion since May. Supplier delivery times improved slightly for a third month, helped by higher inventories, although shipping issues limited gains. Cost inflation remained high but eased from September, as competition among suppliers helped moderate price pressures for raw materials.