U.K. Construction PMI below 50.0 in November

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Source: Reuters
© Scanpix/Reuters
The U.K. Construction PMI dropped below the weakest forecast ahead of a budget statement and amid the biggest decrease in the number of new orders in four years. PMI declined from 50.9 in October to 49.3 last month, the lowest level in four month, and below 50.0 for the third time since August that means that the U.K. construction turned from growth to contraction.

"House building continues to witness falling levels of activity and the commercial sector, the shining light of construction earlier this year, is contracting at the fastest pace since late-2009. Civil engineering continues to be the one slither of growth in the sector", said David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply.

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