Construction PMI MoM (UK)
The Construction PMI report is an index based on a survey carried out by Markit. It is released on a monthly basis, on the second day of business, making it an early release date. The survey is carried out on 170 construction purchasing managers who rate the level of business conditions. It is a broad-based report because it includes prices paid, employment, inventories, supplier deliveries, production and new orders. If the construction PMI comes out above 50, this means that the sector is expanding, below 50 means that the sector is contracting. This is a leading indicator because it is released pretty early and because the purchase managers are very well informed and have a great insight into what companies think about the construction sector and about the overall economy.