Latest data released by Markit/CIPS - 4 June 2019
- Prior 50.5
A weaker-than-expected print here as construction activity falls back into contraction territory. The headline reading is the weakest since March 2018 with the drop led by a fall in the employment component, which declined from 49.4 in April to 47.9 in May - the lowest reading since November 2012.
This continues to highlight weakness in the factory and construction sectors in the UK economy amid Brexit uncertainty, which isn't all too surprising. Cable sits at 1.2659 currently, near the lows for the day after posting highs of 1.2687 as the dollar fell early one before recovering some ground in the last hour.
