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Construction sector activity takes a dive

UK construction sector activity plummeted in December at the quickest pace since comparable records began in 1997, as new orders tumbled at the fastest-ever rate, firms axed staff, and sub-contractors slashed their prices, a key survey showed yesterday.

UK construction sector activity plummeted in December at the quickest pace since comparable records began in 1997, as new orders tumbled at the fastest-ever rate, firms axed staff, and sub-contractors slashed their prices, a key survey showed yesterday.