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Fastest rise in UK construction orders since August 2021
March data pointed to a continued rise in UK construction output, helped by the fastest increase in new work for seven months. That said, escalating inflationary pressures and concerns about the economic impact of the war in Ukraine contributed to a sharp drop in business optimism. The degree of confidence about the growth outlook was the weakest since October 2020. The headline S&P Global / CIPS UK Construction Purchasing Managers’ Index® (PMI®) – which measures month-on-month changes in total industry activity – registered 59.1 in March, unchanged from February and well above the 50.0 mark that ... (full story)
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