U.K. construction sector growth slows

U.K. construction sector expanded slower in April, compared to March, showed a survey conducted by Markit. The Markit / CIPS construction purchasing managers' index declined to 55.8, from 56.7 in March. Reading above 50.0 indicates industry expansion.

"On the face of it, this [PMI data] is a pretty encouraging survey that points to clear, decent construction expansion in April," said Howard Archer, chief UK economist at IHS Global Insight."However, all construction data and surveys have to be taken with a considerable dose of salt at the moment as there are major discrepancies between what the surveys are indicating and what the hard data are showing."