UK August construction PMI report now out 4 Sept
- 51.9 prev
- weakest upturn in construction output for 12 months
- marginal increase in overall construction activity
- robust rise in house building offset by marked fall in commercial work
- new business declines for the second month running
Not key data given the sector's lack of impact on GDP but soggy all the same and algos duly sending GBPUSD down to 1.2942 from 1.2950 as EURGBP breaks up through 0.9200 again.
The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the construction industry. A reading above 50 indicates expansion in the construction industry; a reading below indicates contraction
Full report here
