August 2018 UK Markit/CIPS construction PMI data 4 September 2018
- Prior 55.8
- Input prices 62.8 vs 63.3 prior. Lowest since Jul 2016 (still robust though)
- Modest overall rise in construction activity
- Suppliers’ delivery times lengthen to greatest extent since March 2015
Very soft looking report. It’s not all bad news, according to Tim Moore at Markit;
“There are some encouraging takeaways from the latest survey, especially the resilient degree of new business growth in August and a strong upturn in staff recruitment. Survey respondents noted that they are confident about achieving organic growth at their businesses in the coming 12 months. The degree of optimism reported in August remained constrained by external factors, including domestic political uncertainty, stretched supply chains and shortages of suitably skilled labour.”
GBPUSD edges to a new low of 1.2819.