There was a considerable slump in the UK construction sector at the start of the third quarter. According to the latest S&P Global PMI® survey data, total industry activity levels fell at the steepest pace since May 2020. Underlying data highlighted marked decreases in volumes of work carried out across all three monitored sub-sectors, but a considerable drag came from a fresh drop in residential building. Posting 44.3 in July, down from 48.8 in June, the headline S&P Global UK Construction Purchasing Managers’ Index™ (PMI®) – a seasonally adjusted index tracking changes in total industry activity – signalled the ... (full story)