Markit survey confounds more optimistic forecasts with loss of momentum in housebuilding and civil engineering

Growth in Britain’s construction industry has slowed unexpectedly in July, hurt by a loss of momentum in housebuilding and civil engineering, according to a new survey that highlighted the economy’s reliance on the services sector.

The monthly Markit/CIPS UK construction purchasing managers’ index (PMI) published on Tuesday fell to 57.1 after hitting a four-month high of 58.1 in June, confounding a Reuters poll estimate for a rise to 58.4.

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Source: The Guardian Circular Economy RSS