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UK construction output rises slightly in August, but new orders fall at fastest pace since May 2020
UK construction companies recorded a marginal increase in total business activity during August. Growth in the commercial and civil engineering segments helped to offset a slump in house building. However, business activity forecasts for the year ahead were the weakest since January and job creation lost momentum since the previous month. This was largely due to falling sales volumes across the construction sector, as signalled by the fastest decline in new orders for just over three years. At 50.8 in August, down from 51.7 in July, the headline S&P Global / CIPS UK Construction Purchasing Managers’ Index® ... (full story)