UK Construction PMI weakest weakest since mid-2013

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Wednesday, Dec 02 2015

Growth momentum softened across the UK construction sector in November, with output, new business and employment all rising at slower rates than in the previous month. The UK construction recovery is down but not out, according to November’s survey data. Aside from a pre-election growth slowdown in April, the latest expansion of construction activity was the weakest for almost two-and-a-half years amid a sharp loss of housebuilding momentum.

At 55.3, the headline seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index was down from 58.8 in October and signalled the slowest expansion of business activity for seven months. Analysts were anticipating smaller decrease to 58.4. Aside from the pre-election slowdown seen in April, overall output growth was the weakest since mid2013.

Sterling is currently being traded around 1.5080 area. Pair is likely to find support around 1.5050 handle and resistance above 1.5130 level. Later today, in the US session, ADP job figures are scheduled for a release.

More in this category: « Spanish unemployment decreased more than expected Eurozone CPI at 0.1% »

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