S&P Global's UK construction PMI rose to 46.1 in September from 44.3 in August,
above the 44.9 forecast but still below the 50 cutoff, signalling continued
output contraction. The residential subindex improved yet remained in
contraction, denting the Labour government's hopes for a housing-led recovery.
Firms cited higher interest rates, rising inf and weak orders, and said
uncertainty from the Middle East conflict was prompting delays to large project
decisions. The future activity expectations index fell to its lowest level since
May.
