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UK Construction Growth Slows Sharply

UK construction growth eased further in January to its weakest level in ten months, survey data from IHS Markit showed on Monday.

The headline construction Purchasing Managers' Index fell to 50.6 from 52.8 in December. Economists had forecast a score of 52.5.

A PMI reading above 50 suggests growth in the sector.

The index has posted above the 50.0 no-change mark in each month since the snow related decline seen in March 2018, but the latest expansion was the weakest seen over this ten month period of growth, IHS Markit said.

New order growth was marginal in January, leading to the slowest expansion of employment numbers for two-and-a-half years.

Several survey respondents noted that Brexit uncertainty had led to hesitancy among clients and a corresponding slowdown in progress on new projects, the survey said.

In January, all three categories of construction output recorded weaker trends than those reported in December.

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