UK building slowdown hits sterling

Growth in construction firms in Britain fell unexpectedly to a one-year low in August, hit by an investment slump in the commercial sector as Brexit uncertainty weighed on the economy, a survey showed.

The fall in the Markit-CIPS Construction Purchasing Managers’ Index hit sterling which fell to below 92p against the euro.

The survey underlined the uncertain outlook for an economy that has become increasingly difficult for the Bank of England to gauge.