British construction output fell at its fastest pace in six years in May, according to new statistics. Spades far from the ground…
The headline S&P PMI dropped to 38.2 from 39.7 in April, the seventeenth straight month below the neutral 50 mark, indicating shrinkage. Outside the pandemic, this is the steepest contraction since March 2009. Residential activity was the worst-performing segment – firms blamed unfavourable market conditions and elevated borrowing costs…
New orders also fell at the fastest rate in six year. Some firms explicitly cited domestic political uncertainty as hitting demand – thanks Andy…
Asked by Lobby hacks about his past comments on Trump (“any UK politician who gave Trump the time of day should be ashamed right now”) Burnham was blithe:
“Politicians say things throughout their career, but now the important thing is to focus on the moment you are in.”
Were it so easy…