Heavy snowfall from the “beast from the east” caused Britain’s construction industry to grind to a halt last month, according to an industry survey showing the biggest fall in activity since immediately after the Brexit vote.
Confirming fears that freezing weather across the country last month would harm the economy by forcing diggers and cranes to fall idle, the closely watched Markit/Cips UK construction purchasing managers index showed the industry contracted in March.
The barometer of economic activity slumped to 47.0 last month from 51.4 in February, placing the industry below the 50-point mark separating growth from contraction, missing a forecast of 50.8 by economists in a Reuters poll.
