Housebuilding reaches new low on purchasing managers' index as construction falls for fourth month in a row
UK construction activity last month suffered the biggest monthly fall for 11 years while housebuilding fell to a new low, according to the Chartered Institute of Purchasing & Supply (CIPS).
The decline in overall construction activity in June, as measured on the CIPS Construction Purchasing Managers Index, was the biggest ever since the index began in April 1997 and the fourth monthly fall in a row.
The score for construction activity dropped from 43.9 in May to 38.8 in June.
The CIPS's housebuilding activity index, meanwhile, fell for the seventh month in a row, sliding from 32.7 in May to 25.6 in June, its lowest ever level on the CIPS index.