UK Construction Firms Shrink Again Amid Budget’s Chilling Effect

UK builders are on the brink of recording their longest downturn since the financial crisis, according to a closely watched survey that showed that uncertainty in the run-up to the budget is dragging on the sector.

S&P Global’s construction purchasing managers’ index signaled a contraction for a ninth consecutive month, matching in length a slump over 2019 and early 2020. Another month of falling output would mean the longest downturn since 2008-2010 when builders were hit hard by the housing crash.