News

Construction activity falls at fastest rate since 2020 as housebuilding drops off

By 2023-02-07T07:00:00

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House building orders declined sharply in January, purchasing managers index shows

Construction activity has fallen at its fastest rate since the first Covid lockdown.

The latest S&P Global / CIPS UK Construction PMI figures published today show total construction orders fell for the third successive month in January.

Total activity fell from 48.8 to 48.4 month-on-month. It is the steepest rate of contraction since May 2020, when a score of 28.9 was registered. Any score below 50 in the index indicates a decline in activity.

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