The pace of decline in British construction eased last month but the sector rema...
LONDON - The pace of decline in British construction eased last month but the sector remained a long way from a return to growth as Brexit and election uncertainty continued to weigh, a survey showed on Tuesday.
The IHS Markit/CIPS UK Construction Purchasing Managers’ Index rose to 45.3 from 44.2 in October, a four-month high that was above all forecasts in a Reuters poll of economists that had pointed to a reading of 44.5. The PMI added to a string of underwhelming data ahead of Britain’s Dec. 12 election, although the country’s exit from the European Union, rather than the health of the economy, is the central issue in the campaign.
Housebuilding has suffered the least from the downturn in 2019 but nonetheless, November marked its longest decline since early 2013, Moore added.
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