UK PMI Construction dropped to 39.3 in March, down from 52.6, indicating the steepest contraction output since April 2009. Employment dropped at the fastest pace since September 2010. Business expectations also slumped to lowest since October 2008.
Tim Moore, Economics Director at IHS Markit: “The closure of construction sites and lockdown measures will clearly have an even more severe impact on business activity in the coming months. Survey respondents widely commented on doubts about the feasibility of continuing with existing projects as well as starting new work. Construction supply chains instead are set to largely focus on the provision of essential activities such as infrastructure maintenance, safety-critical remedial work and support for public services in the weeks ahead.”
