Economic Buzz: UK Construction Sector Contracts For First Time In 18 Months

4 Aug 2022 , 04:38 PM

UK construction sector contracted for the first time in one-and-a-half-years in July, survey results from S&P Global showed on Thursday. The construction Purchasing Managers Index posted 48.9 in July, down from 52.6 in June. The reading was expected to fall moderately to 52.0. The index fell below the 50.0 threshold for the first time since January 2021. Moreover, the rate of contraction was the fastest since May 2020.Powered by Commodity Insights