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Sharpest decline in UK construction output since March 2018
UK construction companies indicated a renewed decline in total business activity during May. Lower volumes of commercial work and civil engineering activity more than offset a modest increase in house building. New orders also decreased across the construction sector, with survey respondents noting that subdued domestic economic conditions had led to project delays and fewer tender opportunities. At 48.6 in May, down from 50.5 in April, the headline seasonally adjusted IHS Markit/CIPS UK Construction Total Activity Index registered below the 50.0 no-change mark for the third time in the past four months. The latest ... (full story)