FX Expert Funded

UK June construction PMI 52.2 vs 53.6 expected

Prior 54.7

Overall activity continues to expand in the UK construction sector, although the rise has cooled since the month before. That owes to a renewed downturn in housing activity. Meanwhile, commercial activity continues to expand at a sharp rate and that is helped by a modest rise in civil engineering activity as well. S&P Global notes that:

“Continued growth of the UK construction sector in June
meant that the sector has recorded sustained expansion
throughout the second quarter of the year. While there
were signs of a slowdown in the latest survey period,
most notably around housing activity, firms indicated
that a slowdown in new order growth was in part related
to election uncertainty. We may therefore see trends
improve once the election period comes to an end.

“Moreover, confidence in the year ahead outlook
remained strong and firms increased employment to the
largest extent in ten months.
“In terms of inflation, there remains little sign of cost
pressures picking up to any great extent, encouraging
firms to expand purchasing activity. Supply-chain
conditions also remained favourable.”

This article was written by Justin Low at www.forexlive.com.

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