U.K. construction activity shrinks

Source: Dukascopy Bank SA
"The UK construction sector moved back into reverse gear in June, with output falling at its fastest pace since the end of 2009 amid a steep decline in civil engineering"
- Tim Moore, a senior economist at Markit

U.K. construction activity fell at the fastest pace for more than two years in June. The purchasing managers index for the industry retreated to 48.2 from 54.4 in May, showed a survey by Markit and the Chartered Institute of Purchasing and Supply.

"The UK construction sector moved back into reverse gear in June, with output falling at its fastest pace since the end of 2009 amid a steep decline in civil engineering," said Tim Moore, a senior economist at Markit.

"A drop in business activity was perhaps inevitable given that the month started with an additional bank holiday and ended with severe weather across large parts of the UK. However, these temporary factors should not be overplayed, as the latest figures reveal worsening underlying business conditions within the sector."

© Dukascopy Bank SA

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