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UK Construction Growth Falls to Four-Month Low

June 8, 2022 by Forex Winner Leave a Comment

UK Construction Growth Falls to Four-Month Low

Source: S&P Global

Construction work grew at a softer pace in May, marking the lowest reading in four months. EZU is down 0.92%, while VGK is down 0.91%.

  • The S&P Global / CIPS UK Construction Purchasing Managers’ Index was recorded at 56.4 in May after the 53.8 in April, the lowest in four months.
  • The house building sub-sector index fell to 50.7 from 53.8 in April, indicating the worst performance since May 2020.
  • Civil engineering activity grew for the fifth straight month to 55.5, driven by the increase in the number of major infrastructure projects.
  • New orders for the month increased further but marked the slowest growth since December 2021.
  • The majority of survey respondents recorded higher purchasing prices, attributed to higher prices of fuel, energy, and raw materials.
  • Business expectations continued to indicate general optimism, but this was the weakest since August 2020.

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