By bizn_fun 
S&P Global’s Purchasing Managers’ Index (PMI) for construction, external fell to 39.4 in November from 44.1 in October, where a score below 50 indicates the sector is contracting. It was the lowest score for the index since May 2020.
“November data revealed a sharp retrenchment across the UK construction sector as weak client confidence and a shortfall of new project starts again weighed on activity,” said Tim Moore, economics director at S&P Global Market Intelligence.
The survey found that employment in the construction sector dropped for the 11th month in a row, with the latest job cuts “the most marked since August 2020”.
This reflected a lack of new work to replace finished projects and higher wage costs.
Optimism fell to its lowest since December 2022, Mr Moore added, “amid reports of cutbacks to client budgets and pervasive worries about long-term UK economic growth prospects”.