David Vayro said:
“The UK construction PMI figures show that output has dropped for the fourth month in a row while optimism has sunk to the lowest level since December 2008.
"None of this is really very surprising, but that doesn't disguise the fact that it is not good news for the construction sector. There are positive aspects to the context for these adverse trends and the main one, unsurprisingly, is the Government's attempts to bring Brexit to a head with the Prime Minister's 'out by 31 October, deal or no deal' pledge being given a real edge by the recent prorogation.
"Our sense is that there is a huge amount of pent up demand in the sector, but whether that is realised will depend on the outcome of Brexit and, in any event, may not influence the data for some time yet."