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UK construction activity continues to drop in Q3
Posted on October 30, 2023 |
Construction activity in the UK witnessed a 40% decline in new project starts when compared to the previous year, with a 9% drop from the previous quarter.
Main contract awards in the UK construction sector also saw a notable downturn, with a 27% drop from the previous quarter and a 12% drop compared to Q3 of 2022.
The residential construction sector saw a 10% reduction in new project starts when compared to the previous quarter, while industrial project initiations experienced a 38% decline.
The UK's construction industry is currently grappling with challenging conditions marked by fewer new projects commencing and reduced contract awards, impacting various segments of the construction sector.