UK Construction Firms Shed Jobs at Pace Last Seen in Pandemic

UK building firms shed jobs at the fastest pace since the height of the pandemic as rising costs and sluggish order books tightened their grip on the sector, a closely watched survey found.

S&P Global said activity in the industry declined for a third straight month, with its headline PMI registering 46.4 in March — up from 44.6 in February but well below the neutral level of 50. The reading was in line with the median forecast of economists surveyed by Bloomberg.