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After the initial shock of Britain’s decision to leave the EU, an uneasy calm is returning. However, the impact on capital programmes, both in the UK and globally, will be profound and long term. The construction industry’s ability to adapt accordingly will be crucial.

When Britons voted to leave the EU in June, both the UK and its European trading partners were plunged into a period of acute uncertainty.

Within hours, Britain’s Prime Minister had resigned, billions were wiped off the UK stock markets and sterling had slumped in value against both the dollar and the euro.

The days that followed saw a succession of business leaders make dire predictions, and the Governor of the Bank of England describe the UK as suffering from “economic posttraumatic stress disorder.”

Sentiment in the UK construction sector was hit hard, but has since recovered. In July the UK Construction Purchasing Managers’ Index, a closely-watched barometer of industry reaction, fell at its fastest level in seven years. Yet by September it had sprung firmly back into growth territory.    READ MORE