Emer MoreauBusiness reporter
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Construction in November was at its lowest level since the pandemic
Activity in the UK’s construction sector shrank last month at the fastest pace since the pandemic, partly due to uncertainty ahead of the Budget, a closely watched survey has indicated.
The research from S&P Global said November saw the steepest fall in output for five-and-a-half years, led by a downturn in infrastructure and housebuilding.
It added that commercial construction also faced “severe headwinds” last month as concerns over possible Budget measures “pushed clients to defer investment decisions”.
However, some analysts questioned whether the survey results were too pessimistic and suggested activity would pick up following the Budget.
S&P Global’s Purchasing Managers’ Index (PMI) for construction fell to 39.4 in November from 44.1 in October, where a score below 50 indicates the sector is contracting. It was the lowest score for the index since May 2020.