Pace Of Contraction In UK Construction Sector Accelerates In October

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9:48 GMT

Nov 2009

Pace Of Contraction In UK Construction Sector Accelerates In October

(RTTNews) - Construction activity in the UK continued to fall in October, survey data released by Markit Economics showed Tuesday.

The CIPS/Markit construction purchasing managers’ index or PMI fell to 46.2 in October from 46.7 recorded in September. Economists had expected a reading of 47.2. A PMI reading below 50 suggests contraction in the sector.

“The UK construction sector remained firmly in recession during October, with falling activity and employment again signaled,” Markit said in a report. Adding to the difficulties facing UK construction companies, input costs rose further.

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