UK February construction PMI contracts to 49.5, first time in 11 months

The construction sector activity in the UK entered the contraction territory for the first time in eleven months last month, the latest survey report from Markit Economics showed this Monday.

The final Purchasing Managers' Index (PMI) came in at 49.5 in February, down from 52.6 recorded in January and missing consensus estimates pointing to a reading of 52.0.