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
