UK Markit June construction PMI report now out 4 July
- 56.0 prev
- Business activity growth slows from May's 17- month high
- weaker rises in new orders and employment
- business optimism eases to its lowest so far in 2017
GBPUSD suitably unfazed at 1.2930 as even the bots can't be bothered this time but it's still a soggy report albeit above the 50 waterline for positive growth.
June data revealed weaker growth momentum across the UK construction sector, with business activity, new work and employment all expanding at slower rates than in May. Survey respondents commented on signs of renewed risk aversion among clients, reflecting concerns about the economic outlook and heightened political uncertainty. The latest survey also indicated that construction companies were the least optimistic about their near-term growth prospects since December 2016
. At 54.8 in June, down from 56.0 in May, the seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers' Index® (PMI® ) registered above the 50.0 no-change mark for the tenth month running. Although signalling a solid upturn in overall business activity, the rate of expansion eased from May's 17-month peak. Softer growth momentum was recorded across all three broad categories of construction activity. Residential building continued to outperform commercial work and civil engineering in June. Moreover, the latest rise in housing activity was still the second-fastest since December 2015.
Full report here
UK Construction PMI mm