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Severe weather slows U.K. construction activity

  • U.K. construction PMI softened to 62.6 in February from 64.6 in January and missed consensus of 63, hurt by the heavy winter rains.
  • Because of the weather, civil engineering overtook housing as the strongest area of growth, while job creation hit a three-month high.
  • "There appears an undiminished depth of belief among construction companies that strong growth will be sustained this year, helped by more favorable economic conditions and an ongoing house building recovery," says Markit.
  • The FTSE 100 is +1.2%, while the pound is +0.2% at $1.6704. (PR)
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