Construction PMI MoM (UK)
Services Also Left recession Behind in the UK
Starts Thursday, April 8, 2021 at 08:30
Updated Thursday, April 1, 2021
The construction sector has been steady during summer, but in July, it jumped higher suddenly as the report from August showed. We saw this report turn lower in August and September. But in October and November, this indicator jumped higher suddenly to 53.2 and 53.4 points respectively, unlike other sectors which posted some really soft numbers last month. In December it turned lower as well, declining to 52.8 points. Although the biggest decline came in January as this indicator fell to 50.6 points which is very close to stagnation. In February it slowed further, falling into contraction where it remained in March as well. We saw a short-lived jump in April, but this sector fell into contraction again in the following month and the contraction has deepened since then. In November the PMI indicator improved a bit to 45.3 points, but it fell again to 44.4 points in December, so it still remains in deep recession. In the following 2 months it resurfaced again, but dived to 39.3 points in March, due to coronavirus. The dive got deeper in April, but we saw a reversal in May and in June this indicator surged from 29 points to 55.3 and increased further to 58.1 points in July, but cooled off to 54.6 points in August. It remained around those levels until January this year, when it fell in contraction on increased coronavirus restrictions. But the construction PMI indicator jumped to 53.3 points in February. Please follow us for live coverage of this event by experienced market analysts.
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About Construction PMI MoM (UK)
The Construction PMI report is an index based on a survey carried out by Markit. It is released on a monthly basis, on the second day of business, making it an early release date. The survey is carried out on 170 construction purchasing managers who rate the level of business conditions. It is a broad-based report because it includes prices paid, employment, inventories, supplier deliveries, production and new orders. If the construction PMI comes out above 50, this means that the sector is expanding, below 50 means that the sector is contracting. This is a leading indicator because it is released pretty early and because the purchase managers are very well informed and have a great insight into what companies think about the construction sector and about the overall economy.