- Prior 62.6
- Housing activity 68.0 vs 66.6 in June. Highest since Nov 2003
That’s 15 straight months of expansion for construction. Employment expanded at the fastest since the surveys began in April 1997. Respondents also noted that subcontractor availability continued to tighten for the 13th month while rates charged by subbies increased at near record levels. A sign of what can happen when the balance of power swings to the employee from the employer and another brick in the inflation wall.
Better than expected but confirms the slight slip back on last month. That was worth about 10 pips to GBP/USD which ran from 1.6825 to 1.6835
UK construction PMI sector breakdown 04 08 2014
