UK construction growth hits three month low in December

Growth in Britain’s construction sector fell to a three-month low in December, though businesses struck a more upbeat tone for the coming year despite Brexit uncertainty delaying commercial projects, a survey showed on Thursday.

The IHS Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) fell to 52.8 from 53.4 in November, broadly in line with the consensus expectation of 52.9 in a Reuters poll of economists.

The fastest upturn in civil engineering activity since May 2017 was not enough to counter a slowdown in housebuilding and commercial construction, the survey showed.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.