Weekly Economic and Construction Update – 06 October 2023

Weekly Economic and Construction Update – 06 October 2023

Date Published

6 October 2023

Document Type

Category

Author

TDUK

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Summary

The S&P Global/CIPS UK Construction PMI was 45.0 in September 2023, significantly lower than the 50.8 in August and below the 50.0 = no monthly change level for the first time since June and activity in September fell at its fastest pace since May 2020, during the initial pandemic lockdown.

All three sectors covered by the PMI recorded declines, with residential work (38.1) unsurprisingly the worst performing sector during September and its fall was the steepest since April 2009, excluding during the initial national lockdown when construction activity was not permitted to take place.