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- UK construction PMI falls to 55.3 in November
UK construction PMI falls to 55.3 in November
Markit's and the Chartered Institute of Purchasing & Supply's construction purchasing managers' index (PMI) for the U.K. fell to 55.3 in November from 58.8 in October, missing expectations for a fall to 58.2. It was the lowest level since April.
A reading above 50 indicates expansion in the construction sector.
The index was driven by a decline in all three broad areas of construction activity.
"The UK construction recovery is down but not out, according to November's survey data. Aside from a pre-election growth slowdown in April, the latest expansion of construction activity was the weakest for almost two-and-a-half years amid a sharp loss of housebuilding momentum," Senior Economist at Markit, Tim Moore, said.
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