January data indicated a much slower decline in construction output than at the end of 2025. All three sub-sectors recorded weaker rates of contraction than those seen in December, helped by a more stable demand environment and reports of a gradual turnaround in sales pipelines. At 46.4 in January, the seasonally adjusted S&P Global UK Construction Purchasing Managers’ Index™ (PMI®) – a headline index tracking changes in total industry activity – was up sharply from December's five-and-a-half year low of 40.1. The latest reading was the highest since June 2025, but below the 50.0 no-change value for the ... (full story)