Construction contracted in March
The Markit/CIPS Construction PMI has shown that construction output contracted in March for the third month in a row. The index inched up to 47.2 from 46.8 in February, holding below the 50 level that separates expansion from contraction and slightly undershooting forecasts for 47.5. Markit said that unusually cold weather combined with sluggish underlying demand kept a lid on construction work in March. "The negative print for construction output mirrors that seen for manufacturing, and now leaves the service sector as the last great hope for avoiding another slide in UK GDP," said Tim Moore, senior economist at Markit.
Source The Guardian, Page: 30 The Independent, Page: 54
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