Construction PMI MoM (UK)
Construction Improved in October, But Still Remains in Deep Contraction
Starts Tuesday, December 3, 2019 at 09:30
Updated Wednesday, November 27, 2019
The construction sector has been steady during summer, but in July, it jumped higher suddenly as the report from August showed. We saw this report turn lower in August and September. But in October and November, this indicator jumped higher suddenly to 53.2 and 53.4 points respectively, unlike other sectors which posted some really soft numbers last month. In December it turned lower as well, declining to 52.8 points. Although the biggest decline came in January as this indicator fell to 50.6 points which is very close to stagnation. In February it slowed further, falling in contraction where it remained in March as well. But we saw a short lived jump in April, but this sector fell in contraction again in April and the contraction has deepened. Last month the PMI indicator improved a bit,but it still remains in deep recession. Please follow us for live coverage of this event by experienced market analysts.
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About 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.