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Construction hits five-year low as confidence slumps
Daily Express
|March 07, 2025
CONSTRUCTION output hit a five-year low in February as its fastest downturn since May 2020 continued.
S&P Global’s UK Construction Purchasing Managers Index dropped to 44.6 last month, down from 48.1 in January. The figure indicated a steep decline in overall activity, propelled by a sluggish performance in residential buildings, the sector’s weakest performing area.
According to S&P, residential building decreased for the fifth month in a row, sinking to 39.3 — the fastest decline since early 2009. Weak demand, inflated borrowing costs and a lack of new work to replace completed projects drove it.
This story is from the March 07, 2025 edition of Daily Express.
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