U.K. Construction PMI at a three-month low

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Thursday, Apr 02 2015

U.K. Construction PMI posted 57.8 in March, down from 60.1 in February and the lowest for three months, and below expectations on a reading of 59.7, but still well above the 50.0 no-change value. As a result, the latest reading pointed to a strong rate of overall construction output growth, albeit one that was below the average for 2014 as a whole (61.8).

All three broad areas of construction activity saw a loss of momentum since February. Housing remained the best performing sub-sector, followed by commercial construction. Meanwhile, civil engineering output growth eased markedly since the previous month and was the weakest performing category of activity.

After the data Sterling fell and is currently being traded few points above 1.4830 level. Pair is likely to find support around 1.4750 and resistance above 1.4880 area. Later today, in the US session, Trade Balance and Unemployment Claims figures are scheduled for a release.

More in this category: « Euro higher in an uneventful European part of the session Unemployment Claims decreased to 268,000 »

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