AiG Performance of Construction PMI for January dips slightly to 46.3, from

  • prior of 46.8

Summary of the 'key findings':

  • Second consecutive month (of) contraction
  • Sub-sectors ... apartment building returned to negative territory following six months of expansion. House building meanwhile ... second month of growth, albeit at a slightly slower pace
  • Commercial construction was the weakest performing area of construction activity, contracting at its sharpest rate in 3½ years
  • Engineering construction activity also remained subdued
  • For the construction industry as a whole, activity and new orders recorded slightly steeper declines in January while supplier deliveries turned down following two months of growth. Employment edged higher in January, although the pace of growth was the second slowest in six months

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Earlier this week we got manufacturing and services PMIs from AiG