UK Construction PMI down to 57.6

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Monday, Jan 05 2015

At 57.6, down from 59.4 in November, the seasonally adjusted UK Construction PMI signalled the least marked increase in construction output for 17 months. Analysts were predicting a smaller decrease to 59.2. That said, the latest reading was higher than the long-run series average (54.5) and well above the 50.0 value that separates expansion from contraction.

December data highlighted divergent trends between the three broad categories of construction output monitored by the survey. House building activity remained the strongest performing subcategory, although the pace of expansion moderated to its least marked since June 2013. Commercial construction also increased at a solid pace, albeit slower than in the previous month. Meanwhile, civil engineering activity decreased slightly, thereby ending a 17-month period of continuous expansion.

Data did not have any larger impact on the markets with Sterling few points below 1.53 handle. Pair is likely to find support at 1.5250 level and resistance above 1.5330 area. Rest of the session will be without major data releases.

More in this category: « Spanish unemployment fell by 64,405 in December German CPI unchanged in December »

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