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Steepest downturn in UK construction output for five-and-a-half years
November data pointed to a sharp and accelerated reduction in output levels across the construction sector amid widespread reports of challenging market conditions. New orders also decreased to the greatest extent since May 2020. Many construction companies commented on weak client confidence, alongside delayed spending decisions linked to uncertainty ahead of the Budget. At 39.4 in November, down from 44.1 in October, the headline S&P Global UK Construction Purchasing Managers’ Index™ (PMI®) – a seasonally adjusted index tracking changes in total industry activity – was the lowest since May 2020. Lower ... (full story)
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