Summary
Activity in the UK's construction sector decreased sharply in November, at the fastest rate since the pandemic began. This was due to uncertainty about budget measures, which affected new projects, especially in infrastructure and housebuilding.
Key Facts
- The UK's construction sector shrank significantly in November.
- This is the fastest decrease since the pandemic started.
- Infrastructure and housebuilding were the most affected areas.
- Commercial construction also faced challenges due to budget concerns.
- The Purchasing Managers' Index (PMI) for construction dropped from 44.1 in October to 39.4 in November; a score below 50 means the sector is contracting.
- Employment in construction fell for 11 consecutive months.
- Analysts suggest some of the negative survey results might be due to budget-related worries.
- Some expect construction activity might improve after the budget details are clearer.
