UK Construction Extends Downward Trend
The UK construction sector's Purchasing Managers' Index (PMI) slid to 44.5 in February, retreating sharply from January's reading of 46.4 — a result that underscores the sector's inability to gain traction despite brief signs of stabilization at the start of 2026.
A steep deterioration in residential building activity was identified as the primary drag on overall output, with new orders also falling sharply across the sector.
S&P Global noted that the pullback was having downstream effects on supply chains, stating: "Weaker demand for construction products and materials contributed to a sustained improvement in supplier performance. Lead times have now shortened for seven consecutive months."
Tim Moore, economics director at S&P Global Market, pointed directly to the housing segment as the chief culprit behind February's setback. Moore noted that total industry activity has decreased in each month since January 2025 and the latest decline was faster than seen on average over this period — a sobering signal for an industry that had offered tentative hope of recovery earlier this year.
Under the PMI methodology, any reading above 50 reflects sectoral expansion, while figures below that threshold indicate contraction — placing UK construction firmly in negative territory for over a year running.
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