At the same time, strong input cost pressures were reported in February, with higher raw material prices, fuel bills and staff wages reported by survey respondents. At 51.4 in February, the seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI®) edged up from January’s four-month low of 50.2. This signalled a marginal increase in construction output during February, with the index also weaker than seen on average in 2017 (52.3).
UK Construction PMI edged up to 51.4
February data pointed to a continuation of the subdued growth conditions reported across the UK construction sector at the beginning of 2018. Total business activity increased only marginally during the latest survey period, while new work decreased for the second month running. Anecdotal evidence suggested that fragile business confidence and ongoing political uncertainty remained key factors holding back client demand.
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