May PMI® data signalled a modest upturn in overall UK construction output, driven by faster rises in commercial building and civil engineering activity. Meanwhile, house building remained by far the weakest-performing category of activity, with output declining at the steepest pace for three years. Supply conditions continued to normalise in May, as highlighted by the greatest improvement in vendor lead times since August 2009. This helped to alleviate cost pressures across the construction sector, with the overall rate of input price inflation easing to its weakest for 32 months. The headline seasonally adjusted ... (full story)