UK July construction PMI 55.3 vs 52.8 expected

• Prior 52.2

A jump in new orders contributed to the quicker rise in construction activity in the UK last month. The good news is that employment conditions also ramped up but price pressures were also seen rising, so that is something to take note of. S&P Global says that:

“The election-related slowdown in growth seen in June
proved to be temporary, with the pace of expansion
roaring ahead in July. Firms saw the strongest increases
in new orders and activity since 2022 as paused projects
were released amid reports of improved customer
confidence.

“The strength of demand moved the sector closer
to capacity, bringing a recent period of improving
supplier performance to an end. There were also signs
of inflationary pressures picking up, something that
will need to be watched closely if demand strength
continues in the months ahead.”

This article was written by Justin Low at www.forexlive.com.