6 June 2012
The case for more monetary stimulus from the Bank of England to boost the UK economy was strengthened further today, after a survey pointed to a weakening construction sector.
The Markit/Cips survey for May showed the slowest growth in the building industry for three months. The PMI index fell from 55.8 in April to 54.4 last month and the index of positive sentiment fell to its lowest since last October.
The Bank of England’s monetary policy committee voted against extending its £325 billion quantitative easing programme last month.
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