UK December construction PMI 52.8 vs 52.9 expected
Latest data released by Markit/CIPS - 3 January 2019
- Prior 53.4
The print is a three-month low but sits roughly in-line with expectations. Markit notes a slowdown in housebuilding and commercial construction as the main factors for the dip here citing "intense headwind" from political uncertainty resulting in the weakest upturn in commercial work over the last seven months.
Once again, all roads lead to Brexit. GBP/USD remains rather unphased at 1.2575 currently holding a little lower on the day after experiencing a sharp fall in the early Asian morning. EUR/GBP sits at 0.9046 now as the euro posts decent gains on the day while GBP/JPY is at 135.53 now recovering from the low of 131.70 posted earlier this morning.