The UK construction purchasing managers' index (PMI) for September, released by S&P Global on the 6th, came in at 46.1, improving from 44.3 in August but remaining below the 50 mark that separates expansion from contraction. Still, the decline was the mildest since January. The UK construction PMI has been below 50 since January 2025. Tim Moore, economics director at S&P Global Market Intelligence, noted that new orders were relatively subdued in September, with construction companies facing longer lead times from sales to orders as clients postpone decisions on large projects. The new orders index fell to 45.9 from 47.7 the previous month, hitting a three-month low. Input price inflation was the slowest since the outbreak of the Iran war in February, but Moore said this trend is unlikely to continue given rising energy costs. The outlook for future activity was the weakest since May, with residential construction remaining the weakest sector, followed by civil engineering, while commercial construction posted only a slight decline. The all-sector PMI, which includes services, manufacturing and construction PMI data, fell to 51.5 from 51.8 the previous month, a three-month low.