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Main Indicator: Construction PMI
Most Recent Release
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Actual | Forecast | Previous | Revised Form | |
| 40.5 | 36.0 | 36.7 | N/A | ||
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For August
Activity in the UK construction sector contracted for a 6th month in August, though the 40.5 reading was an improvemnet on the last 2 months. The figure also beat forecasts, which saw the PMI drop to a new series low at 36.0. Despite the better than expected result the Pound has been in a free-fall against the Dollar, hitting a low of 1.7800 prior to the NY open. That already close to a 400 pip drop from the GBP/USD pair's close on Friday. |
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Table of Past Data
| 12/4 | 1/3 | 2/4 | 3/4 | 4/2 | 5/2 | 6/3 | 7/2 | 8/4 | 9/2 | ||
| Actual | 54.3 | 56.0 | 53.9 | 52.4 | 47.2 | 46.1 | 43.9 | 38.8 | 36.7 | 40.5 | |
| Forecast | 57.1 | 53.8 | 55.0 | 53.1 | 52.0 | 47.0 | 45.7 | 43.1 | 37.6 | 36.0 | |
| Previous | 57.4 | 54.3 | 56.0 | 53.9 | 52.4 | 47.2 | 46.1 | 43.9 | 38.8 | 36.7 | |
| Revised From | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | |
Past Releases
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Actual | Forecast | Previous | Revised Form | |
| 36.7 | 37.6 | 38.8 | N/A | ||
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For July
In the UK, the construction PMI came in at an 11-year low of 36.7 in July. The housing sector there has ground to a halt impacting the rest of the economy. EUR/GBP - Euro Jumpes on Pound to Start the Week: The Euro-Pound pair jumped in overnight trading and in the NY session as higher inflation will put the pressure on the ECB, while weaker growth in the UK has put the Bank of England on the defensive recently.
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Actual | Forecast | Previous | Revised Form | |
| 38.8 | 43.1 | 43.9 | N/A | ||
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For June
Provided by: Chartered Institute of Purchasing and Supply (CIPS) (sub. req'd) Construction activity contracted at the fastest pace with the PMI slumping to 38.8. Continuing credit crunch and economic uncertainty is weighing on the housing market, which has been on a bubble until last year. According to the BoE, house prices have dropped at the fastest pace in June since 1992, and mortgage approvals fell to the lowest level since 1999. |
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Actual | Forecast | Previous | Revised Form | |
| 43.9 | 45.7 | 46.1 | N/A | ||
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For May
Activity in the construction sector continued to deteriorate, posting a 43.9 in the May period, a fall of 2.2 points compared to April's 46.1. The 43.9 level is the weakest in at least 11 years, as the survey began in April 1997. The data was lower than expected, though it is evident that the UK has entered its worst housing slump since its last recession in 1991. The fallout from the credit crunch has caused banks to tighten up the amount of loans they lend for mortgage, shrinking the pool of potential buyers, and have caused housing prices to fall. |
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Actual | Forecast | Previous | Revised Form | |
| 46.1 | 47.0 | 47.2 | N/A | ||
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For April Construction activity in the UK for April fell further into contraction territory registering a 46.1, a slide of 1.1 points from March. In February construction activity was in expansion at 52.4. |
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Actual | Forecast | Previous | Revised Form | |
| 47.2 | 52.0 | 52.4 | N/A | ||
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For March
The Construction PMI, which measures acivity in the constuction sector, fell by 5 points, going below the 50 level a signal of contraction. The index has been steadily falling except for a bump in January, as the UK housing sector has experienced harder times. Prices are falling, and higher interest rates are cutting into construction of new homes. |
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Actual | Forecast | Previous | Revised Form | |
| 52.4 | 53.1 | 53.9 | N/A | ||
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For February
Release from the Chartered Institute of Purchasing and Supply (CIPS) The construction PMI registered a lower than expected number in February, marking the slowest growth in 20 months. Increasing costs and a 75 month low in new orders are to blame for the weak construction data. Commercial construction went against the grain and registered growth. The UK housing market has experienced a steady drop since last summer. However, this decline is at no where near the pace of the US housing bubble bursting, as the index still remains above the expansion level of 50. |
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Actual | Forecast | Previous | Revised Form | |
| 53.9 | 55.0 | 56.0 | N/A |
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Actual | Forecast | Previous | Revised Form | |
| 56.0 | 53.8 | 54.3 | N/A | ||
| For December. | |||||
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Actual | Forecast | Previous | Revised Form | |
| 54.3 | 57.1 | 57.4 | N/A | ||
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For November. The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager's Index (PMI). |
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