UK construction hits sharpest decline in over five years, PMI drops to 44.3 in July.

UK construction activity plummeted to its sharpest decline in over five years in July, with the S&P Global PMI dropping to 44.3 from 48.8 in June. The sector saw a decrease in all areas, with civil engineering, commercial, and residential construction all reporting weaker demand. The decline was driven by site delays, reduced new work, and lower consumer confidence. Despite the downturn, experts predict some improvement as borrowing costs decrease and government investment increases.