UK Construction Softens to 9 Month Low

Growth in the UK construction sector slowed down in January to its weakest level for nine months.

The Markit construction purchasing managers’ index (PMI) fell to 55 from 57.8 – well below the 57.5 forecast by economists.

The figure contrasted with a stronger-than-expected start for the manufacturing sector published on Monday.

Factory output rose from 52.1 in December to 52.9 in January.

Any figure above 50 indicates growth in the sector.

Markit economist Tim Moore said construction firms were struggling for momentum, with increased economic uncertainty holding back new orders and contributing to one of the weakest rises in output levels since summer 2013.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza