From the UK, yesterday, Construction PMI figures were published. January data pointed to a renewed slowdown in output growth across the UK construction sector. At 55.0, down from 57.8 in December, the headline seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index remained well above the 50.0 no-change value, but signalled the slowest rate of expansion since April 2015. Analysts were anticipating smaller decrease to 57.6. Moreover, aside from the pre-election slowdown recorded last year, the latest reading was the lowest since June 2013. A number of survey respondents noted that softer new business growth had acted as a brake on output growth and staff hiring at the start of 2016.
From the UK, tomorrow, Services PMI figures will be released. Analysts are predicting decrease to 55.4. In the US session ADP job data and ISM Non-Manufacturing PMI figures will be published. ADP's data should show incline by 193,000, while Non-Manufacturing PMI should remain unchanged.
Figures to watch:
Services PMI (Wednesday 10:30)
ADP Non-Farm Employment Change (Wednesday 14:15)
ISM Non-Manufacturing PMI (Wednesday 16:00)
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