UK: PMI Construction steady at 48.7 in January

UK PMI Construction remained at 48.7 points in January, contracting for the third running month, according to data released today by Markit. The result is below market consensus of a rise to 49.1 points.

According to Tim Moore, Senior Economist at Markit:“January’s survey results are yet another indicator of the severe underlying fragility across the UK construction sector, with output failing to rise in any of the three monitored sub-sectors for the first time since last summer.”