Latest data released by Markit/CIPS - 3 March 2020
- Prior 48.4
A solid beat in the headline print as it now sits in expansion territory, with construction output seeing its sharpest rise since December 2018. The good news is that both housing and commercial work is helping to underpin the rebound here.
Markit also notes that new orders are rising at its fastest pace since December 2015 as post-election sentiment helped to boost business confidence and demand for new projects.
It is a good reading but the pound will need more of this optimism to translate into other areas of the economy to sustain any meaningful rally. For today, the data release here isn't going to be one that matters all too much.
