UK Construction Sector Sees Worst Drop in Five Years Amid High Inflation and Uncertainty

The UK construction sector has experienced its worst drop in over five years, with S&P Global's purchasing managers' index falling to 44.1 in October. Staff numbers in the sector have also fallen at the steepest rate in over five years, with high payroll costs cited as a contributing factor. The industry has been impacted by high levels of political and economic uncertainty, and the effects of Brexit and austerity. However, there is some hope for the coming months, with business optimism edging up and input cost inflation dipping to its lowest level in a year.