Construction
Rate rises deal ‘hammer blow’ to British housebuilding sector
A commercial construction uptick offset falls in the residential marekt
The construction sector in Britain returned to growth in July thanks to an uptick in commercial work.
Hower the month saw a sharp fall in residential building, as interest rate rises and cost-of-living pressures dealt a “hammer blow” to the housing market, an influential survey has found.
The latest S&P Global/CIPS construction purchasing managers’ index scored 51.7 in July, up from 48.9 in June and the highest level for five months. Any score above 50 ...
