U.K. Construction Orders Slump as Brexit Referendum Looms: Chart

Has Brexit Uncertainty Negatively Impacted U.K. Housing?

U.K. construction orders fell 1.2 percent in the first quarter, the biggest decline since the end of 2014, with the private-housing sector, down 17.2 percent, the hardest hit, official figures published Friday show. “The construction sector has clearly been affected by increased caution among clients -- especially for major projects -- as the looming referendum on EU membership magnifies U.K. and global economic uncertainties,” said Howard Archer, chief economist at IHS in London. Both construction output and business investment declined in the first three months of the year.

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