Details of the January 2017 UK Markit/CIPS construction PMI data report 2 February 2017
Prior 52.8
Housing activity 52.6 vs 54.9 prior
A disappointing report to say the least. Not only did it miss expectations, it was worse than the lowest estimates.
It wasn't all bad news though as hiring hit an 8 month high, and the outlook index hit the highest since Dec 2015.
In the inflation front, input costs saw the strongest rise since Aug 2008.
The pound has reacted to the worse data by going up. GBPUSD trades at a new high of 1.2706. Work that one out.
