October 2017 UK Markit/CIPS construction PMI 02 November 2017
- Prior 48.1
That’s a nice bounce back into expansion but it’s not all good news. Expectations dropped to the lowest in just under 5 years.
Commercial and civil engineering were still weak and were only offset by stronger residential building. Input prices jumped but are still running below the early year’s peak.
Duncan Brook of CIPS says;
“Though construction orders have shown a small improvement for the first time in four months, the sharp fall in business confidence will send a chill down the spine. With the lowest optimism since December 2012, purchasing managers blamed a slowdown in work from commercial clients, vanishing civil engineering projects and an increasing weariness over Brexit for the lack of performance, weak pipelines and slowdown in job hires.”
GBPUSD took a 20 pip gain to 1.3260 but trades back at 1.3250.
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