Dismal PMI data shows sharp drop in activity and rise in cost inflation

By Daniel Gayne2026-05-07T11:02:00

Source: Shutterstock

Residential and civil engineering worst hit by global uncertainty

Business activity decreased in April and cost inflation hit its highest level since June 2022, according to the latest construction PMI data.

S&P Global’s purchasing managers’ index, which tracks changes in activity, registered 39.7 in the month, down from 45.6 in March.

The latest output reading was the weakest for five months, with civil engineering and housebuilding registering the steepest declines and commercial work comparatively resilient.

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