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UK construction PMI drooped in January, came in at 55.0

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - UK construction sector experiences growth slowdown at the start of 2016. January data pointed to a renewed slowdown in output growth across the UK construction sector. Construction PMI dropped to 55.0, down from 57.8 in December. Construction firms report lowest business confidence since December 2014

    A number of survey respondents noted that softer new business growth had acted as a brake on output growth and staff hiring at the start of 2016. Looking ahead, survey respondents remained highly upbeat overall about their prospects for growth over the next 12 months, with around 46% expecting a rise in business activity and only 6% anticipating a reduction. However, the degree of positive sentiment eased for the third month running and was the lowest since December 2014.

    Job creation eases to its slowest for almost two-and-a-half years. Reduced optimism about the business outlook contributed to a moderation in job creation across the construction sector in January. The latest rise in employment numbers was the weakest since September 2013.
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