Construction Sector's Worst Downturn Since Pandemic

Britains construction sector faces its worst decline since the pandemics early days, with a purchasing managers index reading of 39.4, indicating a significant slowdown. The sector has seen eleven consecutive months of output and employment decline, with staffing levels dropping at their steepest rate since August 2020. The downturn is primarily driven by drops in infrastructure and housebuilding projects, and commercial construction faces severe challenges. The recent budget, focusing on tax increases and energy price support, has disappointed many in the building industry, with little expected to improve the weak near-term outlook.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.