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UK Construction Output rose by 2.5%

Friday, Jun 10 2016
In April 2016, output in the construction industry was estimated to have increased by 2.5% compared with March 2016. All new work increased by 2.9% and all repair and maintenance increased by 1.9%. Compared with April 2015, output in the construction industry decreased by 3.7%.
The underlying pattern as suggested by the 3 month on 3 month movement in output in the construction industry decreased by 2.1%. New orders for the construction industry in Quarter 1 (Jan to Mar) 2016 were estimated to have decreased by 1.2% compared with Quarter 4 (Oct to Dec) 2015 and decreased by 1.2% compared with Quarter 1 (Jan to Mar) 2015.
 
Sterling is currently being traded few points above 1.4430 level. Pair is likely to find support around 1.44 handle and resistance above 1.45 level. Later today, in the US session, Consumer Sentiment figures are scheduled for a release.
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