UK construction growth eases in October, hiring climbs

The S&P Global UK Construction PMI dropped to 54.3 in October 2024 from 57.2 in September, falling short of expectations of 55.5 but still indicating growth above the neutral 50 mark for the eighth consecutive month.

UK construction growth eases in October, hiring climbs

Due to political uncertainty and reduced household spending, new orders continued to grow solidly, though slower. Despite a slight dip in overall business confidence, hiring increased, reaching a three-month high. Purchasing activity rose modestly, driven by higher workloads, but marked its slowest expansion since May.

Supplier delivery times improve, cost inflation eases amid high inventories

Supplier delivery times improved for the third month, supported by higher inventories, though shipping issues limited gains. Cost inflation remained elevated but eased slightly as supplier competition helped moderate material price pressures.