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UK construction growth hits three month low in December

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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 Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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