UK Construction Sector Grows in June

The UK’s construction sector grew for a second month in June, boosted by a rise in house building and supporting expectations that economic growth accelerated in the second quarter.

Growth in output and new orders pushed the Markit/CIPS construction purchasing managers’ index (PMI) to 51 from 50.8 in May, where anything above 50 indicates expansion. It was the highest level since May 2012.

Companies reported rising levels of client demand and larger volumes of new work.

Economists said the positive data raised the chances of stronger second-quarter growth than the 0.3% in the first three months of the year.

The positive news will be welcomed by the Bank of England’s new governor, Mark Carney, who will oversee his first monetary policy committee decision on Thursday.

via The Guardian

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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