Business activity in the UK construction sector fell in June at the fastest pace since 2009

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Analytical company IHS Markit has surveyed the leaders of British construction companies, the results of the survey indicated the most significant decline in business activity in the sector in 10 years. The corresponding index, calculated by IHS Markit, fell in June to 43.1 points from the May value of 48.6 points. The decline in the index was a surprise for economists, who had predicted its growth to 49.2 points. Over the past 5 months, the June decline is already the fourth in a row. The volume of construction of commercial real estate shows a decline over the past six months. And in housing construction last month, the largest decline in 3 years was noted. Construction activity also showed a sharp decline. In June, construction companies had no need to increase the labor force, and their production costs increased at the slowest pace since May 2016.

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