The AiG Performance of Construction Index, which is the third in the PMI series from the group each month
The construction sector slips more deeply into contraction
Down 2.9 points on the month to 46.4
- From 49.3 in September
Ugly
I'll BRB, just getting some lipstick to put on the pig. It will have to be a lot of lipstick 'cause this is a pretty bad result.
ps. As you'll see on the currency, this data point does not tend to have too much of an immediate impact. But stick it in the background info file 'cause construction is a big part of the economy, lots of highly paid jobs (as an aside, the employment sub index actually rose in October). I don't want to be a doomer so I will note that infrastructure building work is a support (lots of government spending).
