Contraction in construction sector slows

CONSTRUCTION in the UKcontracted at a slower pace last month, according to the latest CIPS/Markit purchasing managers&rsquo; index (PMI), which recorded&nbsp; a reading of 47. <br /><br />Although activity fell for the twenty-first month in a row, new order volumes rose for the first time since February 2008. <br />CIPS chief executive David Noble said: &ldquo;It appears we are still some way off from returning to growth let alone reaching the level it was at only two years ago&rdquo;