Steepest Decline In Construction Since 2009

Construction output in the UK has fallen at its sharpest rate since June 2009, hitting a seven-year low. The Markit/ CIPS Purchasing Managers' Index (PMI) came in at 46.0 in June, down from 51.2 in May and crucially below the 50 mark, which means output is falling rather than growing. It is the first time the construction industry has reported a contraction since April 2013.