- July revised to 2.8%
- 4.0% vs revised 2.7% y/y
A big boost in the yearly number but the month on month reads have been fairly volatile over the last few quarters. We do have the third month of yearly on year gains so that is adding some stability. There’s not much market movement on this release as it lags so more attention is paid to the Markit/CIPS construction PMI.