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Investing.com -- The United Kingdom (TADAWUL:4280)’s construction sector continued to face challenges as it contracted for the fourth consecutive month in April.
This is according to an industry survey released on Wednesday, which showed a decrease in new work and persistently high cost pressures.
The S&P Global construction Purchasing Managers’ Index (PMI) showed a slight increase, moving from 46.4 in March to 46.6 in April.
Despite this minor uptick, the index remains below the critical 50 level, which separates growth from contraction.
This ongoing contraction highlights the difficulties currently faced by the British economy, particularly within the construction sector.
The PMI is a key indicator of economic health, providing insight into the private sector’s operating conditions. A PMI reading below 50 typically indicates a contraction in the sector, while a reading above 50 suggests expansion.
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