Details of the November 2015 UK Markit/CIPS construction PMI data report 2 December 2015
- Prior 58.8
- Housing activity 55.2 vs 59.6 prior. Lowest since June 2013
That's the lowest headline since April and the slowest pace of growth for over two years
GBPUSD slammed down to 1.5034
There was slowing growth seen across all three sectors, housing, commercial and civil engineering
Employment has been a big factor in construction throughout but its growth was the weakest since Sep 2013. Subcontractors are still increasingly being used but their charges aren't rising as much as recently
Tim Moore at Markit tries to look on the Brightside but there's no hiding that this is a disappointing report;
"Overall the latest results suggest that construction companies have become a little more cautious towards year-end, especially in terms of job hiring. However, a healthy flow of new tenders from public and private sector clients is expected to provide a tailwind to growth heading into 2016. Reflecting this, UK construction firms were again overwhelmingly positive about the outlook for their business activity, while only a small proportion anticipates falling output levels during the next 12 months."
