Shortages and surging prices stunt UK construction growth: PMI

LONDON, Oct 6 (Reuters) – Rising prices, supply chain disruption and staff shortages put the brakes on the recovery of Britain’s construction sector last month, a survey showed on Wednesday, adding to signs that economic growth has taken a hit recently.

The IHS Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) fell to an eight-month low of 52.6 in September from 55.2 in August. A Reuters poll of economists had pointed to a reading of 54.0.

The survey showed construction activity cooled across the housebuilding, commercial and civil engineering sectors.

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Source: Reuters