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"The rise in activity within the housing sector is particularly progressive"
- David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply
U.K. construction sector contracted modestly in November, according to the data published by the Markit agency on Friday. The construction purchasing managers' index slid to 52.3 in November from 53.9 in October. A reading above 50 signals industry expansion.
"The rise in activity within the housing sector is particularly progressive, but as this growth is coming from such a low base it doesn't herald the start of a new dawn," said David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply.
"Furthermore, construction companies remain cautious about the next few months and highlight the lack of government spending as a particular threat to future business activity."