Latest data released by Markit/CIPS - 3 September 2019
- Prior 45.3
The reading is weaker than expected but it isn't that much of a surprise to see construction activity staying subdued amid weaker economic conditions overall in the UK.
The details don't make for pretty reading either with new orders at its weakest level since March 2009 and expectations falling to its weakest level since December 2008.
This just reaffirms continued weakness in the UK economy in Q3 with a technical recession possibly in the works. Cable sits at 1.2000 currently as the pound stays weak but is off the lows seen earlier around 1.1959 amid ongoing political uncertainty.
