UK Construction Slows down in June

Activity among the UK’s builders slowed by more than expected in June according to the latest survey snapshot of the sector.

The Purchasing Managers’ Index came in at 54.8 in the month, down from 56 in May and lower than the 55 City of London analysts had pencilled in.

Any reading above 50 signals growth.

All three of the main construction sectors – housebuilding, commercial and civil engineering – slowed in the month.

Measures of business optimism hit their lowest levels of the year so far.

“Survey respondents commented on renewed caution among clients, in response to heightened political and economic uncertainty,” said Tim Moore, senior economist at IHS Markit, which compiles the PMI.

via The Independent

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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