London Construction Slowdown in Q3 Due to Brexit

Growth in London’s construction market suffered a sharp slowdown in the third quarter, as a survey released Thursday revealed mounting unease within the industry over how the U.K.’s exit from the EU will play out.

The quarterly survey of the U.K. construction industry from the Royal Institute of Chartered Surveyors (RICS) was notable for the frequency of references to fears over the many questions remaining unanswered as the country gears up to break away from the EU.

According to Simon Rubinsohn, chief economist at RICS,in a phone call to CNBC: “Concerns regarding how Brexit will unfold appear more in this construction survey than they did in our residential survey, highlighting the overarching uncertainty resonating through the sector in the build-up to the U.K’s actual departure from the EU.”

via CNBC

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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