Construction sector demand improves in February, PMI shows

February brought an improvement in demand for Britain’s construction sector, helping the rate of new business growth reach its fastest since May 2023. At 49.7 in February, S&P Global’s UK Construction Purchasing Managers Index (PMI) was up from 48.8 in January. Housebuilding saw a near-stabilisation of business activity, the financial information firm noted, while residential and commercial construction also saw improving market conditions. “A stabilisation in house building meant that UK construction outpu ...