UK Construction Sector Sees Biggest Slowdown Since May 2020
Update: 2025-12-05
Description
The UKs construction industry faces its biggest slowdown since May 2020, with all sectors experiencing sharp drops in activity. Residential construction hits a low since the pandemic lockdown, posing a challenge for the governments goal of building 1.5 million new homes. The report also shows a decrease in new orders and employment. Critics blame the governments handling of public finances, rising inflation, and jobless rate for the economic struggle. Business groups and economists argue that tax changes have hurt the job market and increased prices. The former chief economist for the Bank of England and industry figures express concern over the impact on business and consumer confidence. New car sales also slipped due to budget speculation, but the EY ITEM Club anticipates a potential rebound in the index next month.
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