Pace Of Contraction In UK Construction Sector Accelerates In October

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Construction activity in the UK continued to fall in October, survey data released by Markit Economics showed Tuesday.

The CIPS/Markit construction purchasing managers' index or PMI fell to 46.2 in October from 46.7 recorded in September. Economists had expected a reading of 47.2. A PMI reading below 50 suggests contraction in the sector.

"The UK construction sector remained firmly in recession during October, with falling activity and employment again signaled," Markit said in a report. Adding to the difficulties facing UK construction companies, input costs rose further.

Construction activity in the UK continued to fall in October, survey data released by Markit Economics showed Tuesday. (Market News Provided by RTTNews)