"UK housebuilding has fallen to its weakest level since the Covid-19 lockdowns of 2020, underlining the scale of the challenge facing ministers as they attempt to revive construction and meet housing targets. New data from S&P Global shows activity across the UK construction sector continued to shrink in December, with housing and commercial construction work both contracting at the fastest pace in more than four years."
"Overall, the UK construction Purchasing Managers' Index (PMI) edged up slightly to 40.1 in December, from 39.4 the previous month. However, the reading remains well below the 50 mark that separates growth from contraction, signalling another month of falling activity. The downturn has now stretched to 12 consecutive months, making it the longest unbroken period of contraction in the construction sector since the global financial crisis of 2007-09."
Housebuilding hit its weakest level since the Covid-19 lockdowns of 2020, with housing and commercial construction contracting at the fastest pace in over four years. S&P Global data shows overall construction activity shrank in December and the UK construction PMI rose slightly to 40.1 from 39.4 but remained well below the 50 threshold. The downturn has lasted 12 consecutive months, the longest unbroken contraction since the 2007–09 financial crisis. Fragile client confidence and delayed investment decisions ahead of the Budget have weakened order books, though business expectations rose to a five-month high.
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