UK Markit/CIPS Nov construction PMI data now out 4 Dec

  • 50.8 prev
  • rising at fastest pace for 5 months, led by housing
  • improvement in construction growth was largely confined to residential work

Stronger headline sees GBP gains but limited given it's lack of impact on UK GDP as I warned earlier

Says Markit:

  • Residential work drives modest construction rebound in November
  • Commercial and civil engineering activity continue to decline
  • Business optimism picks up from October's near five-year low

Full report here

Potential Brexit developments today also putting some perspective on this data.

GBPUSD 1.3442 EURGBP 0.8821 GBPJPY 151.76