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U.S. markets recover from steep losses
LONDON, Feb. 2 (UPI) -- The Purchasing Managers Index for the construction sector in Britain declined in January, the Chartered Institute of Purchasing & Supply said Thursday.
The PMI, which indicates business growth with numbers above 50, dropped from 53.2 to 51.4, said the report, which is co-produced by Markit Economics.
At 51.4, construction expanded, but expansion slowed to the weakest level in four months.
Employment in the sector was stagnant, Markit said.
The new-orders index dragged down the composite index and two of three broad construction categories, housing and civil engineering, had declining output in January.
Commercial construction, however, expanded for the 23rd consecutive month, the report said.
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