December 2017 UK Markit/CIPS construction PMI 3 January 2018

  • Prior 53.1
  • New orders 53.1 vs 52.9. Highest since May 2017

Markit notes;

  • Housing remains by far the best performing area of activity
  • New orders rise at fastest pace since May
  • Sharp rate of input price inflation continues in December

Juyt a minor miss but the underlying comeponents aren’t too bad. On inflaiton, things are still looking strong;

Strong cost pressures persisted across the construction sector, driven by rising prices for a range of inputs. In particular, survey respondents noted higher prices for blocks, bricks, insulation and roof tiles, alongside continued rises in the cost of imported products. Although the rate of input cost inflation picked up since November, it remained softer than February’s peak.

GBPUSD touched a new low of 1.3584 but that’s from 1.3591 so nothing major.


Ryan Littlestone

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