In December, there was another noticeable decrease in construction activity in the UK, although the pace of decline slowed down to its lowest point since the current phase of reduction began in September. The primary factor hindering construction output was a persistent decline in house building, attributed by survey respondents to higher interest rates and diminished confidence among clients. Despite these challenges, supply conditions improved, as delivery times for construction items shortened for the tenth consecutive month. Additionally, price discounting by suppliers led to a moderate reduction in average cost burdens across the construction sector at the end of 2023.
S&P Global UK Construction PMI UK Actual 46.8 Forecast 46.1 Previous 45.5
