Construction PMI MoM (UK)
A Sudden Dovish Turnaround for UK Construction
Starts Wednesday, October 17, 2018 at 20:28
Updated Tuesday, October 2, 2018
The construction sector has been steady during summer but in July, it jumped higher suddenly as the report from August showed. But, September's report showed a bearish reverse which was just as quick as this indicator fell to 52.9 points from 55.8 previously.
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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.