Housebuilding continues to drag down UK construction

Reuters

07 November 2023

Britain’s construction industry shrank for a second month in a row in October, according to a survey of construction buyers.

The S&P Global/CIPS UK construction Purchasing Managers’ Index (PMI) improved only marginally to 45.6 from September’s 45.0, which was the lowest reading since May 2020 when Britain was under a Covid lockdown. A score of anything less than 50.0 represents a contraction.

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