UK Markit/CIPS construction PMI data now 2 Nov
- 48.1 prev
- Marginal recovery of production in construction, led by
- Civil engineering and commercial buildings
a further decline in October
- Confidence in the 12-month outlook drops
at the lowest level since December 2012
Much better title in this sector, but not a big contributor to GDP and the sub-text is less impressive movement of the traction avant. Algos don’t care about this.
GBP back up to 1.3265 but running into sellers again after the 1.3233 low with the largest BOE event casting a shadow.
Said Markit:UK construction companies reported that business
conditions remained subdued during the month of October.
The growth of production was largely confined to the house
the building, which has in part offset the decrease in volumes of civil
engineering and commercial activity.In addition, the
the balance of construction firms expecting an increase
in the affairs of the business during the next 12 months eased to its lowest since December 2012. Caution
the prospects for the construction of the workload means that
the employment figures rose to one of the
the slower rate observed over the past four years.
Full report here