UK construction activity falls in March at fastest rate since 2009 -PMI [Reuters]
IHS Markit Ltd. Common Shares (INFO)
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Source: Reuters
UK construction activity falls in March at fastest rate since 2009 - PMI LONDON (Reuters) - Britain’s construction sector saw the sharpest fall in activity since the financial crisis last month, a survey showed on Monday, despite facing much less pressure than other industries to shut down operations due to the coronavirus. The figures from financial data provider IHS Markit and the Chartered Institute of Procurement and Supply (CIPS) also confirmed data last week that showed the British private sector as a whole is contracting at its fastest rate in more than 20 years. The construction Purchasing Managers’ Index (PMI) tumbled to 39.3 in March from 52.6 in February, its lowest since April 2009 and well below economists’ average forecast of 44.0. The 13-point monthly fall was the largest since the survey began in 1997, and the index looks likely to worsen. “The sector is stuck in quicksand and sinking further,” Duncan Brock, group director at CIPS, said. Britain’s government has not re
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