Growth in London’s construction market suffered a sharp slowdown in the third quarter, as a survey released Thursday revealed mounting unease within the industry over how the U.K.’s exit from the EU will play out.
The quarterly survey of the U.K. construction industry from the Royal Institute of Chartered Surveyors (RICS) was notable for the frequency of references to fears over the many questions remaining unanswered as the country gears up to break away from the EU.
According to Simon Rubinsohn, chief economist at RICS,in a phone call to CNBC: “Concerns regarding how Brexit will unfold appear more in this construction survey than they did in our residential survey, highlighting the overarching uncertainty resonating through the sector in the build-up to the U.K’s actual departure from the EU.”
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