The United Kingdom's Construction Purchasing Managers' Index (PMI) reached 53.3 in December, decreasing from November's 55.2 and failing expectations, S&P Global and Chartered Institute of Purchasing & Supply (CIPS) revealed in their report published on Tuesday.
The document attributed the slowdown in mainly residential work, followed by civil engineering and commercial building.
"The slowdown in overall construction output growth reflected more subdued demand conditions in recent months," S&P Global Market Intelligence Economics Director Tim Moore said. "Although confidence recovered after a post-Budget slump during November, it was still much weaker than in the first half of 2024. Many firms reported worries about cutbacks to capital spending and gloomy projections for the UK economy."
