(IHS Markit) UK Construction PMI was 54.6 in October, an increase from an eight-month low of 52.6 in September.
Construction activity was curtailed by supply constraints and input inflation, although both eased to a six-month low.
Expansion in new orders was little changed from an eight-month low in September and was weaker than the average recorded during summer. Employment increased sharply in October.
Construction firms reporting higher lead times fell from 63% in September and June’s peak of 77% to 54% in October.
Input prices rose sharply but were at the lowest in six months. Around 73% of firms reported an increase in purchase prices due to rising commodity and energy prices.
Firms remained optimistic, with the near-term outlook remaining positive. 52% of firms forecast an increase in output in the year ahead, with only 8% expecting declines.
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