Output bounces back as commercial sector rebounds

By Jordan Marshall2021-03-04T11:45:00

Tower cranes at the Sir Robert Mcalpine Construction site above Moorfields tube station

CIPS/IHS Markit PMI also says February was ninth consecutive month of growth in new orders, although costs are increasing

Construction output has bounced back thanks to a resurgence in the commercial sector, which has seen the sharpest rise in activity since September.

Overall activity in February rebounded from the previous month’s disappointing performance, with the IHS Markit/CIPS UK construction total activity index hitting 53. A hike in commercial work offset a slight slowdown in housebuilding growth, while February also represented the ninth consecutive month of growth in new orders.

In January the construction index dipped below the 50.0 no-change mark for the first time since last May.

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