Residential housebuilding activity across Britain slowed down for the first time in two years in June, with the UK’s construction sector facing the weakest performance in the last nine months, revealed the latest PMI report.
The S&P Global/CIPS UK Construction Purchasing Managers’ Index (PMI) – which measures month-on-month changes in total industry activity – noted that commercial work too got affected, and "saw a considerable loss of momentum" as businesses reined in spending.
The UK construction sector PMI dropped to 52.6 in June from 56.4 in May, with the weakest expansion since September 2021. A reading of 50 or above indicates growth.
