UK construction sector faring better than expected - PMI

The downturn in the UK's construction sector showed signs of easing in May, according to a closely-watched survey published on Thursday.

The latest S&P Global UK construction purchasing managers index was 47.9 in May, still in negative territory but up from April's 46.6 and the slowest pace of contraction since January.

It was also ahead of consensus, for 47.2.

A reading below the neutral 50.0 benchmark indicates contraction, while one above it suggests growth. 

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