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Construction PMI signals moderate fall in UK output levels
UK construction companies indicated that 2013 started with a moderate reduction in business activity, although the pace of contraction was unchanged since December. This was highlighted by the seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI®) – which measures overall output in the sector – posting 48.7 in January, unmoved from December’s six-month low. The headline index has registered below the neutral 50.0 value for three months running, and the latest reading was well below the long-run series average (54.1). Lower construction output in January reflected falling volumes ... (full story)
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