Construction sector surged through September

Due to an increase in major projects and housebuilders' growing confidence, the UK's construction industry experienced its fastest growth in more than two years in September. The S&P Global construction purchasing managers' index (PMI) rose to 57.2, surpassing analysts' expectations of 53.1. Tim Moore, economics director at S&P Global Market Intelligence, noted: “UK construction companies indicated a decisive improvement in output growth momentum during September.” Factors such as lower interest rates and a stable domestic economy contributed to this growth, although rising demand for raw materials has led to the highest input cost increase since mid-2023. Despite the positive growth, business optimism has dipped to its lowest since April, as companies brace for potential challenges ahead. 

The Daily Telegraph (05/10/2024)   The Independent UK (05/10/2024)   The Standard (05/10/2024)   The Times (05/10/2024)