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Daily Mail
3 hours ago
- Daily Mail
UK construction output shrinks despite rebound in housing activity
A recovery in housebuilding failed to prevent the UK's construction sector shrinking for the sixth successive month in June, a survey has reported. The closely watched S&P Global Construction Purchasing Managers' Index (PMI) gave a reading of 48.8 last month, compared to 47.9 in May. Any figure above 50 indicates growth, while any number below represents a contraction. Housebuilding was the sole construction category to expand, recording its first month of expansion since September 2024 amid a rise in new projects and sales pipelines. Britain's housing market enjoyed higher activity ahead of the stamp duty threshold for first-time buyers going down at the start of April from £425,000 to £300,000. The Bank of England has also cut the base rate by 0.25 percentage points on four occasions since last August. By comparison, commercial work, such as shops, offices, and hospitality venues, endured its biggest slump since the Covid-19 pandemic in May 2020, when many building sites shut down operations due to safety concerns. Survey respondents attributed the drop to poorer UK economic conditions and clients reducing investment spending. But civil engineering was the worst-performing segment of construction activity as its output decreased for the sixth consecutive month. New order books also experienced a sixth month of decline as subdued demand and heightened caution among clients depressed the rate of tender opportunities and sharpened competition for new work. As a result, firms continued to cut their headcount and business optimism across the construction sector reached its lowest level for two-and-a-half years. And demand for building items softened, while companies paid higher prices for materials, including concrete, insulation, and timber. Tim Moore, economics director at S&P Global Market Intelligence, said: 'June data highlighted a sustained downturn in UK construction output, albeit at the slowest pace in six months. 'Shrinking workloads in the commercial and civil engineering segments weighed on total industry activity.' Despite the difficult conditions impacting the construction market, Thomas Pugh, chief economist at RSM UK and Ireland, said the higher PMI figure showed was 'yet another sign that the [UK] economy is recovering after the tax and tariff turmoil of 'awful April.'' During the first week of April, employers' National Insurance contributions rose from 13.8 per cent on annual wages above £9,100 to 15 per cent on salaries exceeding £5,000 and US President Donald Trump announced a 10 per cent baseline tariff on most US goods imports. Pugh added: 'Even though house prices have dropped off a little recently, we think this has much more to do with volatility around tax changes in April than any sign of a fundamental weakness. 'We think there are probably two more interest rate cuts to come in the second half of the year, and with income growth still reasonably strong, that should support a continued recovery in the housing market over the next year.'
Daily Mirror
6 hours ago
- Daily Mirror
M&S shoppers go wild for new strawberry products after sell-out sandwich
M&S shoppers have gone wild for its new strawberry offerings after its Red Diamond strawberry and creme sandwich recently went viral. Stars Emma Willis and Rochelle Humes can be seen sampling the new products online Marks & Spencer fans are excited after hearing news of the retailer's newest summer strawberry offerings, after the flurry of intrigue around its Red Diamond strawberry and creme sandwich. The coveted sandwich has been a sell-out hit among shoppers keen to sample the blend of sweetened bread, fresh strawberries and lightly whipped cream cheese. Now, the popular retail chain has delighted customers with news of more strawberry-themed sweet treats, from cheesecake to lemonade. M&S is an iconic staple on the British high street, despite its humble beginnings as a market stall. Founded in Leeds in 1884, the beloved store maintains its relevancy with a product line renowned for its high quality. There's something for everyone, with on-trend fashion and clothing options for all ages, as well as accessories, homeware and furniture. Shoppers can also fill their cupboards and fridges at M&S's Foodhalls, where there's a vast array of in-house food and drink, branded products and much more. Like its high street competitors, M&S optimises social media to connect with customers, offering regular updates and sneak peeks of all the newest product arrivals and releases. The retail chain boasts a string of popular Instagram accounts for its multiple departments. A recent post, which features presenters Emma Willis and Rochelle Humes, details a new line-up of similar products for those who've yet to get their hands on the sandwich, or crave another sweet fix. In the footage, Emma and Rochelle sample and rate items like a punnet of Red Diamond strawberries; strawberry lemonade - which they branded a 'banger' and a 'winner' - strawberries and cream 'mini bites' made with 'clusters of cornflakes, shortcake biscuits, marshmallow and dried strawberries'; and a cheesecake. Towards the clip's conclusion, Rochelle declared: 'Honestly, I didn't think I could love strawberries anymore.' In the caption accompanying the footage, Emma Willis penned: 'Tennis season is here, and we know you've all been getting berry excited about THAT viral Marks and Spencer Food sandwich this week... so what better time for us to try some of their other iconic strawberries & cream themed launches for summer! 'Up first, this fabulous fruity Collection Red Diamond Strawberry Lemonade is the perfect serve on warm summer days. 'Then we have these iconic Strawberries & Cream Mini Bites which are ace if you love those classic flavours of Eton Mess!' Emma then added: 'And if you fancy playing doubles with your two favourite desserts, it's got to be the new Victoria Sponge Cheese-Cake - soft sponge cake topped with strawberry jam, Madagascan vanilla cheesecake and a berry glaze. 'We reckon that's game, set and MATCH for us!!' In the comments section, people shared their thoughts. One said: 'These look delicious and yummy'. A second said: 'All the strawbs pls' ,while a third simply commented: 'Yummy'.
The Independent
9 hours ago
- The Independent
UK home building returns to growth as demand lifts
UK housebuilding activity returned to growth in June for the first time in nine months, as the downturn across the construction sector showed signs of easing, a new survey shows. But optimism among builders weakened as economic worries clouded the outlook for the future. The latest S&P Global construction purchasing managers' index (PMI) showed a reading of 48.8 last month, improving from 47.9 in May. Any reading above the 50 threshold indicates that activity in the industry is increasing while anything below means it is shrinking. The latest score indicates that construction activity contracted further in June, but the rate of decline was the slowest in six months. Housebuilding was the best-performing area of the industry last month, with residential activity returning to growth for the first time since September, albeit marginally. It follows a boost to the housing industry in recent months as first-time buyers raced to complete purchases before stamp duty relief was cut in April, and UK interest rates have been cut to the lowest level in two years. Furthermore, many large housebuilders have welcomed the Government reintroducing housing targets and taking steps to reform the planning system to reduce bottlenecks. It has also allocated £39 billion to social and affordable homes over the next decade. On the other hand, commercial work – such as offices, shops and warehouses – fell at the fastest pace in five years in June, according to S&P Global's survey. Construction firms attributed the decline to tougher economic conditions and businesses cutting back on investment plans. Civil engineering work also fell for the sixth month in a row and was the worst-performing part of the sector. Meanwhile, optimism among businesses sank to the lowest level in two-and-a-half years amid concerns that demand was waning and competition for new work was intensifying. This also helped drive more cutbacks to staffing among construction firms last month, the survey showed. Tim Moore, economics director at S&P Global Market Intelligence, said: 'June data highlighted a sustained downturn in UK construction output, albeit at the slowest pace in six months. 'Shrinking workloads in the commercial and civil engineering segments weighed on total industry activity.' 'On a brighter note, housebuilding was the best-performing area of the construction sector,' he said, adding that residential work was boosted amid 'reports of more stable demand conditions'.
