India, March 6 -- The UK construction sector registered the sharpest contraction since May 2020 on notable falls in orders and output, survey results from S&P Global showed on Thursday.
The construction Purchasing Managers' Index fell unexpectedly to 44.6 in February from 48.1 in January. The reading was seen at 49.5.
The latest reading signaled the worst performance in construction activity in nearly five years.
Residential building shrank for the fifth straight month and was the weakest performer in February. The decline reflected weak demand conditions, headwinds from elevated borrowing costs and a lack of new work to replace completed projects.
Civil engineering activity contracted the most since October 2020. Output levels fell onl...