The UK construction sector saw activity in January slow to its lowest level in four months to touch 54.2 from 55.0 in December, according to the latest survey of the sector from the Chartered Institute of Purchasing and Supply (CIPS). The rate of growth has now slowed for two straight months although it remains above the 50 point cut off that marks expansion, CIPS said. Commenting on the reading, Roy Ayliffe, director of professional practice at the CIPS, said, "January saw purchasing managers take advantage of the competition between suppliers, as they forced the rate of input price inflation down to the lowest level for eleven months." Looking forward, he was upbeat, saying, "It is good to see that optimism for this sector in the year ahead still remains very high." //www.fxcentre.com