The United Kingdom's construction sector witnessed a decline in output during July 2024, with figures showing a decrease of 0.4% month-over-month. This downturn follows a modest increase of 0.5% in June 2024, according to data updated on 11 September 2024.
This negative shift signifies a troubling development for the UK construction industry, which had previously showcased some resilience with a positive performance in June. The drop raises concerns about sector-specific challenges as well as wider economic factors influencing the industry.
Economists and industry stakeholders will be closely monitoring the next set of data to determine whether this dip marks the beginning of a prolonged downturn or a temporary blip in the UK's construction output trajectory.
