The Bank of England held rates at 3.75% on June 17, but two of nine policymakers dissented for a 25-basis-point hike, even as UK construction data showed the civil engineering sub-index collapsing to 22.1, the weakest reading since the April 2020 pandemic lockdown.
Economist Julian Jessop notes the UK construction PMI lagged Germany and Italy in June at 38.4 despite shared global headwinds. Source
