UK Construction PMI Declines to Lowest Levels Since June 2009 - Forex News by Strategia Forex
UK construction in focus

UK Construction PMI Declines to Lowest Levels Since June 2009

Posted Wednesday, October 2, 2019 by
Arslan Butt • 1 min read

According to data released by Markit, the construction sector in the UK fell into deeper contraction during the month of September. UK’s construction PMI declined to 43.3 in September from 45 in August with building activity declining at the second-fastest rate in over 10 years.

In addition, new orders and employment have also declined further in September in the construction sector on account of Brexit uncertainties keeping investors wary. Markit’s data reveals that UK’s construction industry experienced a severe downturn during the third quarter of this year.

This data comes a data after the release of manufacturing PMI figures which reveal the longest downturn in this sector in a decade. Ahead of the Brexit deadline coming up at the end of this month, disappointing economic data releases raise more questions about the overall health of the UK economy and whether it can withstand the immense churn coming up after Britain exits the EU.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
The market is likely to exhibit fluctuations in the wake of the busy calendar. The UK Retail Sales, Philly Fed Manufacturing from the US....
2 hours ago
Comments

Leave a Reply

avatar
  Subscribe  
Notify of