RE: Starmer and Migration5 Dec 2024 14:34
Good Old Labour
Activity in Britain's housebuilding sector continued to fall last month, as high borrowing costs and weak consumer confidence weighed on demand.
The closely watched S&P Global/CIPS UK Purchasing Managers' Index for the construction industry came in at 55.2 last month, up from October's 54.3.
While the construction industry picked up in November, growth was lopsided, amid weaker residential house-building which is sensitive to high interest rates.
Robust demand for commercial and civil engineering projects offset the contraction in residential housebuilding.
Commercial construction activity expanded at the fastest pace since May 2022.
Conversely, residential work declined at the steepest rate since June. Housebuilding firms said high borrowing costs and fragile consumer confidence were hitting demand.