Surveyors report biggest fall in construction activity since pandemic
The Royal Institution of Chartered Surveyors’ (RICS) latest UK Construction Monitor report shows a net balance of -10% of surveyors reported a decrease in activity in the third quarter of the year.
The quarterly sentiment survey shows a steep drop on the -1% reported for the previous quarter and is the most downbeat result since the beginning of the Covid-19 pandemic in 2020.
The largest fall is in private housebuilding, where the net balance of surveyors reporting a decrease in activity increased from -12% to -26%. Public housing also fell into negative territory to -7%.
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