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Sustained downturn in UK construction output reported in August
S&P Global PMI® survey data pointed to a decline in total industry activity for the eighth successive month, led by marked reductions in the housing and civil engineering segments. At the same time, business activity projections for the year ahead were the least upbeat since December 2022. The headline S&P Global UK Construction Purchasing Managers’ Index™ (PMI®) – a seasonally adjusted index tracking changes in total industry activity – registered 45.5 in August, up from 44.3 in July (which was the lowest reading for just over five years). However, the index was still well below the neutral 50.0 value ... (full story)