9/4/2020, 10:31 AM (Source: TeleTrader)
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UK construction sector down to 54.6 in August

The United Kingdom's Construction Total Activity Index came in at 54.6 in August, declining from 58.1 reported in July and performing below expectations, the IHS Markit revealed on Friday.

The strongest rebound was registered in house building, while commercial work and civil engineering activity had significantly weaker results. The report also noted that, although new orders increased for the third month running during August, the expansion rate remained "only modest" and experienced a slump in comparison to July.

"Another month of widespread job shedding highlighted the ongoing difficulties faced by UK construction companies, with order books often depleted due to a slump in demand from sectors of the economy that have experienced the greatest impact from the [coronavirus] pandemic," economics director at IHS Markit Tim Moore said.

Breaking the News / JR