- Prior 53.0
It's all looking good for the UK construction sector, with another increase in overall activity seen in May. That owes to a further rise in new orders but there are also further improvements in other areas like employment and purchasing. That's a good sign at least in this part of the economy. S&P Global notes that:
"The UK construction sector looks to be building good momentum as we approach the middle of 2024, highlighted by activity increasing at the fastest pace in two years during May. Particularly pleasing was the broad-based nature of the rise in activity as work on housing projects increased for the first time in more than a year-and-a-half.
"Firms are gearing up for further growth in the months ahead, posting renewed expansions in both employment and purchasing activity as workloads increase.
"Moreover, the supply-chain environment continued to improve in May. Companies were able to secure inputs much more quickly than in April and at prices that were only slightly higher than in the previous month on average. These factors should help constructors in their efforts to ramp up operations in line with greater new order inflows."
