economics

U.K. Construction Confidence Drops to Lowest in Six Years

U.K. Construction Confidence Drops to Lowest in Six Years

Photographer: Chris Ratcliffe/Bloomberg
Photographer: Chris Ratcliffe/Bloomberg

Confidence in the U.K. construction industry has fallen to the lowest level in almost six years and some firms say clients are delaying decisions on projects.

The drop in confidence comes amid warnings from Bank of England Governor Mark Carney that Brexit is damping investment, which may not grow at all this year. New projects rose “only modestly” in October, IHS Markit said.

Overall construction activity climbed “slightly,” mainly reflecting a rebound in civil engineering, IHS markit said.

  • IHS Markit construction Purchasing Managers Index 53.2 in October vs 52.1 in September.
  • Measures for housing and commercial activity declined.
  • New orders 51.2 -- a five-month low -- vs 54.9.

MPMIGBXA <Index>

— With assistance by Harumi Ichikura