- Construction PMI 57.2 vs 53.3 expected and 53.6 prior.
Key findings:
- Output growth led by steepest rise in civil engineering activity since June 2021.
- New orders grow at strongest pace for two-and-a- half years.
- Cost pressures intensify in September.
Comment:
Tim Moore, Economics Director at S&P Global Market Intelligence, said:
"UK construction companies indicated a decisive improvement in output growth momentum during September, driven by faster upturns across all three major categories of activity. A combination of lower interest rates, domestic economic stability and strong pipelines of infrastructure work have helped to boost order books in recent months.
New project starts contributed to a moderate expansion of employment numbers and a faster rise in purchasing activity across the construction sector in September. However, greater demand for raw materials and the pass-through of higher wages by suppliers led to the steepest increase in input costs for 16 months.
Business optimism edged down to the lowest since April, but remained much higher than the low point seen last October. Survey respondents cited rising sales enquires since the general election, as well as lower borrowing costs and the potential for stronger house building demand as factors supporting business activity expectations in September."
