UK Construction and Purchasing Index Show Impressive Economic Recovery

On Tuesday, figures revealed that construction activity in Britain grew at its fastest pace in almost six years in August. The Markit/CIPS purchasing managers’index (PMI) for the sector came in at 59.1 in August, its highest level since September 2007 and far stronger than analysts expected, with Societe Generale Strategist Kit Juckes predicting that the figure would dip to 56.

“The latest Construction PMI figures are yet another indication that the U.K. economy has performed impressively over the summer months,” said Markit Senior Economist Tim Moore. The figures followed Monday’s manufacturing PMI figures which also showed a jump activity, hitting a two-and-a-half-year high of 57.2 in August.

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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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