Housing slump sees construction output fall

Construction buyers reported a drop in overall output in June for the first time in five months.
The bellwether S&P Global/CIPS UK Construction Purchasing Managers’ Index recorded 48.9 in June, down from 51.6 in May and below the neutral 50.0 threshold for the first time in five months.
The index was dragged down by a steep decline in residential work.Housing work (index at 39.6) decreased at the steepest pace since May 2020. Aside from the lockdown-related fall in house building, the