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UK Construction Shrinks at the Fastest Pace in 7 Years


Post-Brexit anxieties have seen a contraction of the UK building forecast to its lowest ebb in 7 years. All three construction sectors in the United Kingdom––housing, commercial, and civil engineering––came in with numbers definitely indicating a contraction. Economic uncertainty and a “higher-than-normal aversion to risk” are contributing to the economic picture. The Bank of England is holding meetings to decide how much the sector should be propped up, and what form the subsidies should take. Read more...