UK Construction Activity - Business Outrank

Construction activity in the UK has dropped sharply, with it being the worst since May 2020. According to a new survey, house building and engineering work slowed down considerably, pushing the S&P Global construction PMI to 44.6 in February, from 48.1 in January. Housebuilding was the most affected sector, with its activity index standing at 39.3, the worst since the pandemic. The builders also pointed out high interest rates, weak demand, and a lack of new projects as some of the reasons for the decline. Although the government is keen on building 1.5 million homes, uncertainty over public spending and planning delays have put a damper on construction. However, private housing projects jumped by 31% from November 2024 to January 2025, which could be the beginning of a turnaround. Official data also showed that housing starts increased by 10.9% in the latter part of 2024, but approvals for new projects are low; only 242,610 homes were approved in 2023, the fewest since 2014. They have to rise by 53% to meet the government's targets, experts say. Economists think that demand may pick up with rates falling and confidence among consumers rising, but for now, UK construction activity remains weak.

What's Hot

Morbi: India’s ‘Bahubali’ of Business, Challenging China in the Ceramic Industry

Tesla’s 8,600 Sales in 3 Days Spark ₹375 Crore EV Subsidy Probe in Canada

Ola Electric Faces Regulatory Heat Over Trade Certificate Violations

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: UK Construction Activity

UK Construction Activity Falls at Fastest Rate in Five Years

Morbi: India’s ‘Bahubali’ of Business, Challenging China in the Ceramic Industry

Tesla’s 8,600 Sales in 3 Days Spark ₹375 Crore EV Subsidy Probe in Canada

Ola Electric Faces Regulatory Heat Over Trade Certificate Violations

Maharashtra’s Economy to Grow at 7.3% in 2024-25

Our Picks

Morbi: India’s ‘Bahubali’ of Business, Challenging China in the Ceramic Industry

Tesla’s 8,600 Sales in 3 Days Spark ₹375 Crore EV Subsidy Probe in Canada

Ola Electric Faces Regulatory Heat Over Trade Certificate Violations

Most Popular

Morbi: India’s ‘Bahubali’ of Business, Challenging China in the Ceramic Industry

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: UK Construction Activity