Details of the July 2015 UK Markit construction PMI data report 4 August 2015

  • Prior 58.1
  • Housing activity 57.7 vs 59.3 prior

As noted, house building dropped markedly and alongside civil engineering, sent the index to the lowest since May. We say quite a surge following the election so we're perhaps undoing some of that here

GBPUSD has a quick drop to 1.5571 before running back to 1.5590

Construction led the way through 2013 & 2014, and still remains strong. There's nothing to be worried about from this number right now

There's a tightening in the market being seen by respondents who note increased lead in times for projects, limited supplier capacity and further skill and sub contractor shortages. That can lead to inflationary pressures creeping in

UK construction PMI