January 2018 UK Markit/CIPS contruction PMI 2 February 2018

  • Prior 52.2
  • Residential building activity slips into decline
  • Contraction in new business reported

A disappointing read from this sector into the new year, and we’re skirting with contraction. GBPUSD has dipped some 18 pips to 1.4208. It’s not all bad news though;

Despite softening marginally since December, cost pressures remained intense in January. Inflation in input costs was driven by a variety of materials such as bricks, copper and timber Sub-contractor usage increased during January, thereby ending a ten-month sequence of decline.

Furthermore, the latest expansion was the strongest seen since November 2016 In response, sub contractor availability fell sharply

 

Ryan Littlestone

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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