Activity in Britain's construction sector increased in April but growth was lopsided, with residential house-building suffering its steepest decline since May 2020, weighed down by weaker demand and higher mortgage rates, a survey showed on Friday.
UK Construction PMI (Apr) $GBP Actual: 51.1 Expected: 51.0 Previous: 50.7
Tim Moore, economics director at S&P Global Market Intelligence, said cutbacks in new house-building projects continued to weigh on construction output.
"While there have been some signs of a recent stabilisation in market conditions, this has yet to feed through to construction activity," Moore said.
