UK housebuilding has fallen at the steepest rate in more than a decade - outside of the pandemic years - as high borrowing costs impact demand, according to a closely watched survey.
The June downturn in housebuilding was"steep and accelerated", according to the S&P Global/CIPS construction purchasing managers' index . Residential construction decreased at the fastest pace since March 2020, when the country entered COVID-19 lockdown for the first time. When the lockdown drop is excluded, last month saw the fastest fall since April 2009, when the economy reeled from the global financial crash.
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Source: SkyNews - 🏆 35. / 67 Read more »