UK construction PMI plunges to its lowest level since June 2009 - TDS

Research Team at TDS, notes that the UK construction PMI plunged from 51.2 in May to 46.0 in June, well below our and markets’ expectations of a small decline, and its lowest level since June 2009.

Key Quotes

“The decline occurred despite 80% of the survey being conducted before the 23 June vote to leave the EU, which suggests further significant declines to come over the coming months. Heightened uncertainty in the construction industry might well be related to the high degree of foreign employment in the sector.”