Output in UK construction industry unexpectedly fell in July

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Friday, Sep 11 2015

In July 2015, output in the construction industry decreased by 1.0% compared with June 2015, after increasing by 0.9% in June. Analysts were predicting 0.5% increase. All new work decreased by 1.5% while all repair and maintenance showed no growth. Compared with July 2014, output in the construction industry decreased by 0.7%. This is the first year-on-year fall in construction output since May 2013, when it fell by 2.8%.

Separate report, survey of consumer inflation expectations showed that median expectations of the rate of inflation over the coming year were 2.0%, compared with 2.2% in May. Asked about expected inflation in the twelve months after that, respondents gave a median answer of 2.3%, unchanged since May.

Sterling is currently being traded few points above 1.5430 level. Pair is likely to find support around 1.54 handle and resistance above 1.5480 area. Later today, in the US session, PPI and Consumer Sentiment figures are scheduled for a release.

More in this category: « Euro testing 1.13 handle US PPI unchanged in August »

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