The UK construction sector declined at its quickest rate in March in the latest indication of the broader slowdown for the economy.

Office for National Statistics (ONS) identified that the industry contracted by 3.6{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} – the biggest decline since December 2012.

This has also shown that since comparable records began six years ago that the industry has shrunk for three consecutive months.

The figures come amid warnings that uncertainty ahead of the EU referendum is weighing on growth – though some experts think any impact will not have taken effect until the second quarter of 2016.

 

However the housing sector bucked the trend, reporting first quarter growth of 4.8{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34} – its best since the third quarter of 2014. However, it turned lower in March, with a fall of 0.3{06aeb1921e0b802d2bd9c766bc98fb11cc6a46c2b0593ed9c88a0e29cf417a34}.

Source: Sky News

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