India, Feb. 6 -- The UK construction sector shrank in January, ending a 10-month period of expansion due to shrinking orders and rising cost pressures, survey results from S&P Global showed on Thursday.
The construction Purchasing Managers' Index rose to 48.1 in January from 53.3 in December. The index registered below the 50.0 threshold for the first time since February 2024.
Respondents said delayed decision-making by clients on major projects and general economic uncertainty weighed on business activity.
"UK construction output fell for the first time in nearly a year as gloomy economic prospects, elevated borrowing costs and weak client confidence resulted in subdued workloads," S&P Global Market Intelligence Economics Director Tim M...