UK’s construction sector in April posted its slowest month since January, hampered by rising costs and higher interest rates to fund new projects.
- The S&P Global/CIPS construction purchasing managers index (PMI) edged down to 58.2 from 59.1 in March, its joint-highest level since June 2021.
- Tim Moore, economics director at S&P Global, stated that the construction sector is trending towards a more subdued recovery stage as sharply surging energy and raw material costs hurt client budgets.
- A measure of prices paid by construction firms was at its highest level since September last year.
43% of construction companies in the UK expect an upturn in business activity in the next 12 months, while 12% expect a fall.
FTSE 100 down -0.81%, GBP USD down -0.02%
Source: S&P Global
