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Slump in growth of sector

UK construction sector growth slowed sharply in January, fuelling fears of renewed recession.

The Chartered Institute of Purchasing and Supply's activity index for construction dropped from 53.2 in December to 51.4 last month on a seasonally-adjusted basis.

Although remaining above the level of 50 which separates expansion from contraction to signal a 13th consecutive month of growth, the drop in the index pointed to a sharp slowdown in the expansion rate.