UK construction fell in August as high prices crushed demand for housing

Posted on September 12, 2022   |  

• The S&P Global/Cips UK construction purchasing managers’ index, which measures month-on-month changes in the sector reached 49.2 points in August, which is exceeding 48.9 points in July, but below the 50 points, indicating contraction.
• The activity in the rest of the economy contracted for the first time since January 2021, indicating that the UK economy is on the brink of recession.
• Since June 2020, the growth in new orders was the slowest as customers held back to new purchases due to high costs.
• Commercial activity also saw a decline, ending a period of growth stretching back for a year and a half.

Image: Financial Times