Blog


UK Data Disappoints Again

Growth in Britain’s construction industry slowed in June, adding to signs that the economy might be struggling to regain much momentum after a lacklustre start to the year, a survey showed on this morning.

The Markit/CIPS UK Construction Purchasing Managers’ Index fell to 54.8 from May’s 18-month high of 56.0, slightly below the median forecast in a poll of economists for 55.0.

The Bank of England is pondering whether to raise interest rates for the first time in a decade and is watching for signs that other areas of growth can offset a consumer spending slowdown, caused by a rise in inflation and a slowing in pay growth.

On Monday, a PMI survey for the manufacturing sector came in weaker than economists’ forecasts. Factory exports increased at the slowest rate in five months.

Next key UK figures will be on Friday, we have the UK Industrial and Manufacturing production as well as the trade balance figures. If all comes out as expected we could see the pound boost, however the figures from the last two days hint towards weaker data.

Leave a Reply

Your email address will not be published. Required fields are marked *

5 × 5 =

What's Going On?

Currencies 4 You Limited is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House, Victory Way, Admirals Park, Crossway Dartford, DA2 6QD. Currencies 4 You's Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Ebury Partners UK Ltd is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. Reference number: 900797. Ebury Partners UK Ltd is registered with the Information Commissioners Office, with registration number: Z209673X | Terms and Conditions | Privacy Statement | Careers