Britain’s construction industry has suffered its sharpest drop in new orders since the depths of the recession a decade ago, with clients delaying projects as they await clarity over Brexit.
August’s purchasing managers’ index for construction showed that activity fell to 45 from 45.3 in July, below forecasts for 45.9 — any reading below 50 indicates contraction. Pulling the sector down was “the sharpest reduction in new work since March 2009”, which was blamed on “delayed decision-making among clients in response to domestic political uncertainty”.
Britain’s construction industry has suffered its sharpest drop in new orders since the depths of the recession a decade ago, with clients delaying projects as they await clarity over Brexit.
August’s purchasing managers’ index for construction showed that activity fell to 45 from 45.3 in July, below forecasts for 45.9 — any reading below 50 indicates contraction. Pulling the sector down was “the sharpest reduction in new work since March 2009”, which was blamed on “delayed decision-making among clients in response to domestic political uncertainty”.
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