UK Construction Sector Grows, But Housebuilding Declines Sharply

Commercial and infrastructure projects drive growth, while high borrowing costs and low consumer confidence weigh on residential construction.

The UK construction sector's PMI rose to 55.2 in November, up from 54.3 in October, indicating increased activity.
Commercial construction saw its fastest growth in two-and-a-half years, driven by demand for offices, shops, and warehouses.
Civil engineering projects, such as roads and railways, also expanded, though at a slower pace than in previous months.
Residential housebuilding experienced its steepest decline since June, attributed to high borrowing costs and fragile consumer confidence.
Economic uncertainty from the autumn Budget and rising employment costs contributed to weaker job creation and reduced business optimism in the sector.