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U.K. Homebuilding Falls to 12-Month Low as ‘Chill Winds’ Bite

U.K. construction growth cooled more than economists forecast last month as homebuilding slumped to the weakest in a year.

Markit Economics said its Purchasing Managers Index fell to 61.4, the lowest in five months, from 64.2 in September. Economists had forecast a decline to 63.5, based on the median estimate in a Bloomberg News survey. A reading above 50 indicates expansion. A gauge of housing dropped to 61 from 65.8.