The U.K. construction PMI jumped to 38.1 from 30.9 in the previous month, which crossed the wires much stronger than the 31.9 forecast held by the economists. The data suggests that the housing market is beginning to stabilize as the government takes unprecedented steps to steer the economy out of the recession however, as the European Commission expects the U.K. economy to contract by 3.8% in 2009, tightening credit conditions paired with the downturn in the labor market is likely to weigh on economic activity going forward.