Construction Sector Hits Record Low In UK
Britain's construction sector suffered a record drop in activity during April as the coronavirus pandemic shut sites. On Wednesday, the closely-watched IHS Markit/CIPS UK construction purchasing managers' index showed a reading of only 8.2 in April, down from 39.3 in March and the lowest since recor
Published -
May 8, 2020 6:22 AM
Britain's construction sector suffered a record drop in activity during April as the coronavirus pandemic shut sites. On Wednesday, the closely-watched IHS Markit/CIPS UK construction purchasing managers' index showed a reading of only 8.2 in April, down from 39.3 in March and the lowest since records began in 1997. A score below 50 indicates a contraction in output. "Today we found out that social distancing has also brought construction activity to a complete halt. That indicates that the construction sector has been hit even harder than the services sector." noted Capital Economics analyst Thomas Pugh.
Tags : INTERNATIONAL construction UK coronavirus pandemic Britain Capital Economics analyst Thomas Pugh shut sites