UK construction activity falls at steepest rate since Covid pandemic | Construction industry
The UK construction activity fell at the sharpest rate last month because the height of Covid pandema in the midst of a collapse in the construction of the house underlined the difficulty faced by labor to meet the target of 1.5 million new home.
In addition to the pressure on the government, the figures obtained from the S&P global market intelligence fell at the most upright speed during the first UK Coronavirus locking the activities in the sector since May 2020.
The data provider said that a sharp decrease in the housing building was a monthly purchasing index for the UK construction industry as a whole (PMI), a fall in civil engineering and a softer decline in the commercial sector.
The survey, compiled from the survey of approximately 150 construction companies, is closely monitored by the Treasury and the UK Bank for early warning signs from the economy.
Threadneedle Street is expected to reduce borrowing costs on Thursday, because increasing unemployment, adhesive inflation, April and May shrinking production and Donald Trump’s latest import tariffs tour last week to global trade hit.
According to the figures released on Tuesday, the UK Services sector noted the biggest decline in new orders in almost three years last month.
Financial markets brought quarter points discount rates to 95%.
S&P Global Market Intelligence’s Chief Economist Joe Hayes said: “Follow -up indicators from the questionnaire imply that UK constructors are preparing for the next challenging times.
“Companies reported tender opportunities and lack of hesitation from customers for companies to commit projects.
