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UK: PMI Construction remains in contraction territory in September

By FXstreet.com,  October 02, 2012, 04:36:00 AM EDT

FXstreet.com (Barcelona) - UK PMI Construction increased to 49.5 points in September, from 49.0 points in November, according to data released today by Markit. The result is below market consensus of 49.8 points.

According to Tim Moore, Senior Economist at Markit and author of the Markit/CIPS Construction PMI: "UK Construction PMI data for September presents another bleak assessment of business conditions in the sector. The current stretch of falling new orders is now the longest seen for three years, reflecting shrinking underlying demand alongside delays in spending from both public and private sector sources. A lack of new projects meant that confidence in the business outlook remains close to its lowest since the UK economy nosedived into recession during 2008."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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