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  • November’s Markit/CIPS PMI survey indicated an easing in the pace of construction growth, as a result of the slowest rise in housing activity since mid-2013. The softening growth rate appears to be easing some of the strain on capacity. Employment levels and sub-contractor charges both rose, but at the weakest rates in around two years.


  • The prospects for UK manufacturing have significantly worsened according to a trade survey from EEF. The quarterly balances of firms reporting growth in new orders and output both fell to the lowest level since 2009 Q3. Of particular concern for construction is that investment intentions are also at their weakest since the start of 2010. More respondents expect investment to rise rather than fall over the next 12 months.

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