Output levels fell again in the construction sector in July, the slowest place since March, the latest S&P Global UK Construction PMI reveals. S&P says this contributed to a sustained rebound in business activity expectations for the year ahead. Reduced volumes of business activity have been recorded since January 2025, which is the longest continuous period of decline since the global financial crisis. Total new business received by construction companies fell at the slowest pace for 10 months in July. “All three main categories of construction recorded a slower drop in business activity, marking the slowest downturn in construction output for four months, likely due to higher borrowing costs and business uncertainty.”