U.K. Construction Index Unexpectedly Climbed on New Business
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U.K. construction output unexpectedly strengthened in October as new business increased, boosting employment in the sector.
A gauge of building activity based on a survey of purchasing managers rose to a five-month high of 53.9 from 50.1 in September, Markit and the Chartered Institute of Purchasing and Supply in London said in a report today. The median forecast of nine economists in a Bloomberg News survey was for a reading of 50, which is the dividing line between expansion and contraction.