Industry News

UK Construction Firms Stuck in Longest Slump Since Before Covid

Author: Bloomberg

UK construction firms are suffering their longest downturn since just before the pandemic after a fresh slump in housebuilding, according to a closely watched survey.

S&P Global’s construction purchasing managers’ index registered 45.5 in August, a small improvement on July’s five-year low of 44.3 but still indicating a significant contraction. It was slightly better than economists’ expectations of a rebound to 45.