UK Construction Downturn Eases in July, PMI Reaches Four-Month High
| Pair | Now | Since publish |
|---|---|---|
| GBPUSD | — | — |
| EURGBP | — | — |
- UK Construction PMI rose to 44.7 in July, a four-month high.
- Exceeded 40.0 forecast, improved from 38.4 (June).
- Downturn eased across all categories, but still below 50.0 growth threshold.
The UK construction sector experienced an easing of its downturn in July, with the S&P Global/CIPS Purchasing Managers’ Index (PMI) climbing to a four-month high of 44.7. This figure surpassed economists’ expectations of 40.0 and marked an improvement from June’s 38.4, though it remained below the 50.0 threshold indicating growth. The slowdown in business activity was the least pronounced since the start of the year, driven by a slower fall in new orders and a reduced pace of decline across all three major categories: housebuilding, commercial work, and civil engineering. Housebuilding activity saw its slowest contraction in nine months, while commercial work demonstrated the most resilience at 46.8. Despite these improvements, the sector has recorded continuous declines in business activity for an extended period, reflecting ongoing subdued conditions.