Weekly Economic and Construction Update – 5 May 2023

Weekly Economic and Construction Update – 5 May 2023

Date Published

5 May 2023

Document Type

Category

Author

TDUK

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Summary

According to the S&P Global/CIPS UK Construction PMI, contractors remained in expansion mode in April but the latest data indicated uneven growth across sectors. Rising commercial work and civil engineering activity was offset by the steepest decline in residential activity since the initial lockdown in 2020.

Supply conditions improved to the greatest extent since September 2009, reflecting an upturn in materials availability and fewer transport delays. The PMI was 51.1 in April, marginally higher than 50.7 in March. 50=no monthly change and April’s PMI represents growth for a third consecutive month.