Construction suffers biggest crunch since 2009 as orders evaporate –


Builders are suffering the sharpest slump in more than a decade as new orders for homes, commercial property and civil projects dried up last month.

Businesses are holding off starting new construction projects or paying for new premises because of concerns about the impact of Brexit uncertainty on the economy, according to IHS Markit, which surveys companies every month.

Its purchasing managers’ index for construction fell to 43.1 in June, down steeply from 48.6 in May and 50.5 in April. Any score below 50 indicates a fall in business activity, so this sharp decline points to a severe slowdown in the sector.

It is the lowest score recorded since April 2009, in the depths of the financial crisis….