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Indicator Digest

Construction

Main Indicator: Construction PMI

Most Recent Release

March
2nd, 2010
Actual Forecast Previous Revised Form
48.5 48.9 48.6 N/A
For February
Provided by: Markit Economics

Table of Past Data

6/27/28/49/210/211/312/21/52/23/2
Actual45.944.547.047.746.746.247.047.148.648.5
Forecast39.146.146.048.148.247.246.947.647.748.9
Previous38.145.944.547.047.746.746.247.047.148.6
Revised FromN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A

Past Releases

February
2nd, 2010
Actual Forecast Previous Revised Form
48.6 47.7 47.1 N/A
For January
Provided by: Markit Economics
January
5th, 2010
Actual Forecast Previous Revised Form
47.1 47.6 47.0 N/A

For December
Provided by: Chartered Institute of Purchasing and Supply (CIPS) (sub. req'd)(PDF)

From the release:

  • New order volumes contracted following an increase in November.
  • Staffing levels were cut again.
  • Construction companies forecast a recovery in the sector in 2010.
December data pointed to a further contraction in UK construction activity, extending the current downturn into its twenty-second successive month. Subdued demand was the main factor underlying reduced activity, as levels of new business, which some companies report are still at low levels, fell slightly during the month. However, despite the continuing recession and a further cut in employment, construction companies remained confident that a recovery will occur in 2010.
December
2nd, 2009
Actual Forecast Previous Revised Form
47.0 46.9 46.2 N/A

For November
Provided by: Chartered Institute of Purchasing and Supply (CIPS) (sub. req'd)

Contraction in the UK construction sector continued for the 21st straight month, as the construction PMI posted a 47.0 reading for the month of November. However, the rate of decline in the sector abated a bit, with the index climbing for the first time in three months. The figure is the highest since August. With the UK economy still far from returning to normal growth it will take time for homebuilders to regain their footing, and for now they are coping by trimming staff whole they await an increase in business. New business increased marginally in November, the first rise in new order volumes in 21 months. So it seems that the worst of construction's contraction is over, recovery still remains elusive. We'll see how the sector shapes up in the months to come. 

November
3rd, 2009
Actual Forecast Previous Revised Form
46.2 47.2 46.7 N/A

For October
Provided by: Chartered Institute of Purchasing and Supply (CIPS) (sub. req'd)

October
2nd, 2009
Actual Forecast Previous Revised Form
46.7 48.2 47.7 N/A

For September
Provided by: Chartered Institute of Purchasing and Supply (CIPS) (sub. req'd)

September
2nd, 2009
Actual Forecast Previous Revised Form
47.7 48.1 47.0 N/A

For August
Provided by: Chartered Institute of Purchasing and Supply (CIPS) (sub. req'd)

The UK construction sector contracted for the 18th month in a row in August. The PMI index registered a reading of 47.7, which was an improvement on July, but lower than expectations. The slowdown in the construction sector is easing as August's reading was the highest in that 18 month span. New orders remained weak and the sector continued to shed jobs.

August
4th, 2009
Actual Forecast Previous Revised Form
47.0 46.0 44.5 N/A

For July
Provided by: Chartered Institute of Purchasing and Supply (CIPS) (sub. req'd)

July
2nd, 2009
Actual Forecast Previous Revised Form
44.5 46.1 45.9 N/A

For June
Provided by: Chartered Institute of Purchasing and Supply (CIPS) (sub. req'd)

The CIPS/Markit UK construction PMI unexpectedly declined to 44.5 in June from 45.9 in May, indicating contraction in UK construction-sector activity for sixteen months, according to data from Markit Economics and the Chartered Institute of Purchasing and Supply.  

June
2nd, 2009
Actual Forecast Previous Revised Form
45.9 39.1 38.1 N/A

For May
Provided by: Chartered Institute of Purchasing and Supply (CIPS) (sub. req'd)

The UK construction PMI rose to its highest level in 13 months in May, jumping to 45.9 following a 38.1 reading in April. A reading below 50 means that the sector is still contracting however. The housing market in the UK is seeing some tentative positive signs as housing prices seem to be bottoming and mortgage approvals rose to the highest level in a year in April.