UK S&P Global Construction PMI (Apr) 39.7 vs. Exp. 46.2 (Prev. 45.6)
- "A rapid acceleration of input cost inflation was seen across the UK construction sector in April. Aside from the post-pandemic surge in input prices from early-2021 to mid-2022, the latest rise in purchasing costs was the steepest in three decades of data collection."
- "Around two-thirds of the survey panel reported higher cost burdens in April, which was overwhelmingly linked to fuel surcharges and subsequent rises in raw material prices..."
- "Expectations for construction activity over the next 12 months remained positive overall during April, but confidence levels were the lowest since last November."
Context
The UK S&P Global Construction PMI came in significantly below expectations, signaling a slowdown in the sector. This notable miss indicates not only weakened construction activity but also heightened input cost inflation, which could pressure margins. As inflation remains a concern, the data may influence central bank policy discussions and market sentiment toward UK assets.
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