Construction buyers report fastest downturn since 2020

Construction buyers saw industry activity drop at its fastest rate for nearly five years in February.
The bellwether S&P Global UK Construction Purchasing Managers’ Index fell to 44.6 in February from 48.1 in January – the lowest mark since May 2020.
Residential building (index at 39.3) decreased for the fifth month in a row and was the weakest-performing area of construction activity in February.
Survey respondents cited weak demand conditions, headwinds from elevated borrowing