U.K. Construction Slows In August

(RTTNews) - Construction activity in the U.K. slowed in August reflecting weakness in housing construction, new survey figures showed on Thursday.

Markit Economics said the CIPS construction purchasing managers' index came in at 52.1, down from 54.1 in the previous month. A reading above 50 indicates expansion while one below suggests contraction.
The latest rise in construction output was fueled by a further increase in new incoming work. However, growth in both new orders and output failed to boost employment.
All of the three construction sub-sectors showed a rise in activity during August. However, in the residential construction sector, there was a marked slowdown in growth.
Commercial based construction also eased during the month, while civil engineering recorded an increased rate of expansion.