UK construction PMI plunges to 50.6 in January, 10-month low

The construction sector activity in the UK showed a loss of momentum January and eased to its weakest for ten months, the latest survey report from Markit Economics showed this Monday.

The final Purchasing Managers' Index (PMI) came in at 50.6 in January, up from 52.8 recorded in December and missing consensus estimates pointing to a reading of 52.4.

Key Points:

   •  The slowest rise in business activity for ten months.
   •  Commercial work remains weakest performing area.
   •  Employment growth hits two-and-a-half year low.