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UK construction growth slows more than expected

Staff Writer |
UK construction sector growth slowed more than expected in January but confidence for the year ahead picked up to its strongest in over a year.

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The Markit Construction Purchasing Managers' Index (PMI) for January fell to 52.2 from 54.2 the previous month, worse than the 53.8 consensus estimate and the slowest rate of growth since last summer.

All three sub-sectors of housing, commercial and civil engineering saw output soften, with housebuilding enduring its weakest expansion for five months.

A lack of new orders was the main reason for the slowdown, with some construction firms saying they had seen subdued willingness to spend among clients in January.

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