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Financial News: UK Construction Sector Growth Weakest In 6 Months

UK Construction Sector Growth Weakest In 6 Months

10/02/2018 - 04:46:00 (RTTNews)

(RTTNews) - UK construction sector unexpectedly grew at the weakest pace in six months in September, as all three sub-sectors lost momentum, survey data from IHS Markit showed on Tuesday.

The IHS Markit/CIPS UK construction purchasing managers' index fell to 52.1 from 52.9 in August. In contrast, economists had expected the index to rise to 53.1.

A PMI reading above 50 suggests growth in activity.

Civil engineering was the worst performing sub-sector. Activity growth slowed in house building and commercial construction.

New work and employment grew robustly, while business optimism was at the second-lowest level since February 2013.

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