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UK Construction sector records fastest drop in new orders since April 2009
August data pointed to a renewed downturn in UK construction output and another reduction in new order volumes, highlighting an ongoing deterioration in business conditions across the sector. At 49.0, down from 50.9 in July, the seasonally adjusted Markit/CIPS Construction Purchasing Managers’ Index® (PMI®) was below the 50.0 no-change mark and the second-lowest since February 2010. The marginal decline in overall output reflected lower levels of business activity in all three broad areas of the construction sector. Residential building activity was the worst performing category of construction output monitored ... (full story)
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