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2 Feb 2016
UK construction PMI tumbles more than expectations - TDS
FXStreet (Delhi) – Research Team at TDS, notes that the UK construction PMI fell by more than expected, dropping to 55.0 in January (from 57.8 in Dec).
Key Quotes
“Details of the report suggested new business growth was primarily responsible for the slowdown. Broadly speaking, it has remained range-bound in the 55-60 range for more than a year, but underlying this is a slow decline—for example in 15Q4, the PMI Construction fell 1.4% q/q.
This morning’s print leaves it on track for another decline in 16Q1, though we remain optimistic on the construction sector for the rest of 2016, as reflected by the strong balance of opinion in the survey relating to activity over the next 12 months.”
Key Quotes
“Details of the report suggested new business growth was primarily responsible for the slowdown. Broadly speaking, it has remained range-bound in the 55-60 range for more than a year, but underlying this is a slow decline—for example in 15Q4, the PMI Construction fell 1.4% q/q.
This morning’s print leaves it on track for another decline in 16Q1, though we remain optimistic on the construction sector for the rest of 2016, as reflected by the strong balance of opinion in the survey relating to activity over the next 12 months.”