Activity in the building industry has contracted for the first time in 11 months as new construction projects were delayed because of Brexit uncertainty.
The IHS Markit/CIPS construction purchasing managers index for February fell to 49.5 from 50.6 the previous month. This is the first time that the index has dropped below the 50 mark that separates growth from contraction since heavy snowstorms struck last March.
Tim Moore, an associate director at IHS Markit, which compiles the survey, said: “The UK construction sector moved into decline during February as Brexit anxiety intensified and clients opted to delay decisions on building projects.”
