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Investing.com -- Britain’s construction industry downturn eased slightly in June, with homebuilding returning to growth, though commercial building activity fell amid economic concerns.
The S&P Global UK Construction Purchasing Managers’ Index (PMI) rose to 48.8 in June from 47.9 in May, reaching a six-month high but remaining below the 50 mark that separates growth from contraction.
Economists had forecast a reading of 48.4.
Despite the modest improvement in the headline figure, total new orders declined at a faster pace during the month.
" Total (EPA:TTEF) new orders fell at a faster pace as many construction companies signalled reduced overall workloads due to unfavourable domestic economic conditions and fragile confidence among clients," said Tim Moore, economics director at S&P Global.
The data showed a mixed picture across construction sectors, with residential building activity returning to growth while commercial construction experienced a significant decline as economic worries mounted.
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