UK construction growth at nine-month low

The Markit/CIPS UK construction purchasing managers’ index for January fell to 55 from 57.8 in December.

The reading was below the 57.6 expected by economists and marked the slowest rate of expansion since April 2015.

Still, it remained above the 50 mark that separates contraction from expansion.

Tim Moore, senior economist at Markit, said: “UK construction firms struggled for momentum at the start of this year, with heightened economic uncertainty acting as a brake on new orders and contributing to one of the weakest rises in output levels since the summer of 2013.

“Softer growth of house building activity and a more subdued increase in commercial construction were the main factors behind the slowdown.”