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UK construction PMI drops to seven-month low

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The headline seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) dropped to a 7–month low of 55.3 from Oct’s 55.8. The consensus estimate stood at 58.2.

    Key Points

    Commercial building replaces housing as the best performing area of activity.

    Jobs growth eases to its slowest since September 2013
    Input price inflation moderated in November and was well below the long-run survey average.

    Survey respondents remain highly upbeat about the business outlook, with over half (55%) forecasting a rise in output over the year ahead and only 5% expecting a fall.
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