As was the case last month, an improvement in delivery times and subcontractor availability drove a surprise rise on the headline construction PMI in October. But a slowing economy and higher financing costs mean that improvement won’t last. Indeed, the forward-looking components of the survey all dropped back, with the new orders/incoming business balance now below 50. As a result, we think commercial and housing construction activity will soon start to contract.
In view of the wider interest, we are also sending this UK Commercial Property Update to clients of our UK Housing Service.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services