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UK construction grows for second month, boosting recovery hopes
British construction grew for a second month in a row in June, cementing expectations that the economy picked up a bit of speed in the second quarter. The Markit/CIPS construction Purchasing Managers Index edged up to 51.0 - its highest level since May 2012 - from 50.8 in May. The index was slightly below a forecast of 51.1 in a Reuters poll. Residential construction, which has been the target of government incentives to boost economic growth, again drove the sector. Commercial construction and civil engineering stabilized after shrinking in recent months. Growth in overall new orders reached its strongest level in ... (full story)