Construction activity grows despite dramatic drop in housebuilding

By Daniel Gayne2023-06-06T09:43:00

Source: Shutterstock

May’s PMI figures showed lowest residential reading in three years

Housebuilding output fell in May at the steepest rate for three years, the latest construction PMI numbers showed.

Work on residential building projects declined for the sixth month running to hit 42.7 on the index, published today by S&P Global/CIPS UK. Any score below 50 in the index indicates a decline in activity.

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