UK Construction Output Hits Highest in Four Years

Source: IHS Markit

Construction activity in the United Kingdom grew at the fastest pace in four years in January, driven mainly by the improvement in new orders during the month. IUKP.L is down 1.14%.

• The IHS Markit Eurozone Construction Total Activity Index jumped to 56.6 in January from 52.9 in December. This is the biggest jump since January 2018.
• New orders grew for the sixth straight month, marking the biggest expansion in the series history. Government incentives drove business inflows for the month.
• Homebuilding activity climbed for the 11th straight month, with the growth hitting the highest in nearly a decade since February 2011.
• Commercial building activity also extended its expansion, marking the fastest pace in four years since January 2018.
• Employment grew at the fastest pace since February 2020, with all three of the biggest economies reporting higher job creation.
• Firms were optimistic toward the coming year for the 13th straight month, with the level hitting the highest since June 2019.