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British construction PMI slides more than anticipated in December
In December, British construction sector activity tumbled a bit, missing estimates and dampening optimism over the UK economy, as industry data disclosed on Wednesday.
Market research company IHS Markit and also the Chartered Institute of Purchasing & Supply told that their British construction purchasing managers' index went down to a seasonally updated 52.2 the previous month versus November’s result of 53.1.
Market experts had hoped the index would inch down to 52.8 in December.
On the index, a result above 50.0 stands for expansion, while an outcome below 50.0 points to contraction.
As IHS Markit informed, housing kept being the best performing area of activity, while new orders inched up at the fastest tempo since May.
The research group added that the abrupt rate of input price inflation kept unrolling in December.
FTSE 100 lagged EU markets with moderate losses of about 0.07% in London.
The UK’s key inflation rate rallied in February, although stayed close to January's two-year minimum, assisting customers to preserve their spending power even as Brexit was still uncertain…
The Monetary policy committee of the Bank of England will vote on the level of interest rate and release its monetary policy summary on March 21, at 14:00 MT time.
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