UK Construction Firms Facing Big Challenges

Growth across Britain’s construction industry picked up slightly in February, driven by the civil engineering sector, though a slowdown in new orders and soaring costs added to mixed signals for the economy, a survey showed on Thursday.

The Markit/CIPS Construction Purchasing Managers’ Index (PMI) edged up to 52.5 from 52.2 in January, above forecasts in a Reuters poll that had pointed to an unchanged reading.

Growth in housebuilding cooled to a six-month low and commercial construction contracted for the first time in four months, but this was outweighed by an improvement for civil engineering firms.

Reuters

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