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UK construction shrinks at fastest pace in 7 years

  Bloomberg UK construction shrank the most since the financial crisis in July, with companies citing uncertainty related to Brexit for the continued weakness. Markit Economics said its Purchasing Managers Index for construction activity slipped to 45.9 from 46 in June. That’s the lowest since June 2009, when the economy was last in a recession. All three sectors — housing, ...

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Vonovia SE lifts forecast again

  Bloomberg Vonovia SE — Germany’s biggest residential landlord — raised its full-year earnings forecast for a second time, citing efficiency created by a string of acquisitions. Funds from operations excluding sales, a measure of a real estate company’s ability to generate cash, will be as much as 760 million euros ($848 million) this year, compared with a previous forecast ...

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US construction spending drops 0.6 percent in June

  AFP US construction spending fell for a third straight month in June with spending on nonresidential construction dropping by the largest amount in six months. Construction spending fell 0.6 percent in June following declines of 0.1 percent in May and 2.9 percent in April, the Commerce Department reported Monday. Nonresidential construction declined 1.3 percent, the biggest setback since December, ...

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