Construction PMI MoM (UK)
Construction PMI to Cool Off Again in January
Starts Monday, February 4, 2019 at 09:30
Updated Monday, February 4, 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 and this week's number is expected at 52.6 points. Although, don't be surprised to see a weaker number after the disappointing manufacturing data on Friday. Please follow us for live coverage of this event and the impact it might have on the related currency 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.