- Prior 59.1
- Housing activity 60.4 vs 59.8 prior
We may have had a slowdown through the latter part of the year but construction still remains very strong. This time last year the PMI was 62.6
"The construction sector is awash with positive sentiment, rejecting wholeheartedly the downbeat end to last year, with the steepest rise in output activity for four months. The good fortune comes in threes - as respondents report a rise in staffing levels, higher levels of new orders and rising rates for sub-contractors. "Clients are ready to spend, resulting in rising employment levels, but tempered by continuing skills shortages now seen for a number of months. Subcontractors have been the winners; their rising rates evidence of continued demand for their capacity and the strongest since records began." Said David Noble at CIPS
Cable gets a 12 pip bid on to 1.5376
Although construction accounts for less than 10% of GDP calculations is does have a much wider bearing on economic activity. Lots of construction means someone is spending
UK construction PMI
