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UK Construction PMI misses estimates, new work sees fastest rise in a year

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The headline Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) registered 58.8 in October, which was down from 59.9 in September, missing estimates of a 58.9 reading.

    Markit noted in its release, “October data highlighted another upturn in overall UK construction output, alongside a rebound in new order growth and the fastest pace of job creation for almost a year. Commercial building work was a key growth driver in October, as housing and civil engineering activity both expanded at slower rates than in September.”

    “Despite a robust and accelerated rise in input buying, latest data indicated the lowest strain on supplier delivery times for almost five years. Meanwhile, relatively subdued cost inflation continued in October, helped by falling raw material prices (especially metals).”
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