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4 May 2016
UK construction PMI drops to nearly 3-year lows in April
The construction sector activity in the UK continues to slow at the start of the second quarter, with the figures coming in horribly weak for April.
The Markit/CIPS manufacturing PMI index for the British economy came in worse-than expected, printing 52.0 in April, dropping sharply from 54.2 booked in March, and way below forecasts of 54 reading.
Markit's Tim Moore noted in the report, "Softer growth forecasts for the UK economy alongside uncertainty ahead of the EU referendum appear to have provided reasons for clients to delay major spending decisions until the fog has lifted."
The Markit/CIPS manufacturing PMI index for the British economy came in worse-than expected, printing 52.0 in April, dropping sharply from 54.2 booked in March, and way below forecasts of 54 reading.
Markit's Tim Moore noted in the report, "Softer growth forecasts for the UK economy alongside uncertainty ahead of the EU referendum appear to have provided reasons for clients to delay major spending decisions until the fog has lifted."