UK Construction PMI down in October

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Tuesday, Nov 03 2015

UK Construction PMI registered 58.8 in October, which was down from 59.9 in September but still well above the 50.0 no-change threshold. As a result, the latest survey marked two-and-a-half years of sustained output growth across the UK construction sector. While the pace of expansion remained weaker than seen on average in 2014, the latest reading was comfortably above the pre-election low recorded in April (54.2).

Higher levels of activity were recorded across all three broad categories of construction monitored by the survey. However, housing activity growth eased from September’s 12-month high, and the latest rise in civil engineering was the slowest since May. Commercial building work increased at the sharpest pace for eight months.

Sterling is currently being traded around 1.5410 area. Pair is likely to find support around 1.5350 handle and resistance above 1.55 level.

More in this category: « Aussie higher after RBA keeps rates steady USD - Major events in the week ahead »

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