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5 Jan 2016
UK Construction PMI Preview: Markets broadly expect construction PMI to increase
FXStreet (Mumbai) - Markets widely expect UK’s construction PMI to increase to 56.0 in December, up from 55.3 reading recorded in November. The research team at TDS are of the opinion that the construction PMI might actually slip to 54.8.
TDS feel that the decline in the manufacturing sector has likely spilled over to the construction sector as well. UK Manufacturing PMI came in at 51.9 in December, down from 52.7 in November, the lowest in three months due to a slowdown in output and new order growth. This spill over has likely offset the impact of the small gain in house prices.
The Markit/CIPS UK Construction PMI fell to 55.3 in November from 58.8 in October of 2015, the lowest since April. Construction PMI in the UK averaged 51.84 from 2008 until 2015. It reached an all-time high of 64.60 in January of 2014 and a record low of 27.80 in February of 2009.
TDS feel that the decline in the manufacturing sector has likely spilled over to the construction sector as well. UK Manufacturing PMI came in at 51.9 in December, down from 52.7 in November, the lowest in three months due to a slowdown in output and new order growth. This spill over has likely offset the impact of the small gain in house prices.
The Markit/CIPS UK Construction PMI fell to 55.3 in November from 58.8 in October of 2015, the lowest since April. Construction PMI in the UK averaged 51.84 from 2008 until 2015. It reached an all-time high of 64.60 in January of 2014 and a record low of 27.80 in February of 2009.