UK Dec Markit construction PMI 52.2 vs 53.0 expected

Author: Justin Low | Category: News

Latest data released by Markit/CIPS - 3 January 2017

A slight miss on the number, cable falling to session lows of 1.3586 - a whopping drop of 8 pips!

Anyway, new orders came in at 53.1 - the highest reading since May 2017.

According to Markit:

Survey respondents indicated that house building remained a key engine of growth, with residential work expanding for the sixteenth consecutive month in December. In contrast, latest data indicated a moderate fall in commercial construction, thereby continuing the downward trend seen since July. Civil engineering work stabilised during the latest survey period, which ended a three-month period of decline.
Nothing too much to takeaway from the data release. As I mentioned in the calendar preview, should have a rather similar reaction to yesterday's manufacturing PMI data - i.e. a muted one.

Cable more or less unchanged to say the least, now back to 1.3591 again.