March data highlighted that business conditions in the UK construction sector deteriorated at a slower pace than in the previous month. The seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI®) – which measures overall output in the sector – posted 47.2 during March, up from a 40-month low of 46.8 in February. That said, the latest reading was below the 50.0 no-change mark for the fifth month running and much weaker than the series average (54.0). Anecdotal evidence suggested that a combination of subdued underlying demand and unusually bad weather conditions had contributed to lower ... (full story)