Details of the September 2015 UK Markit CIPS construction PMI data report 2 October 2015
- Prior 57.3
- Housing 62.1 vs 59.0 prior
A very decent bounce in construction with the highest residential growth in a year. To take some shine off it, new orders grew at the slowest pace for five months. Employment had been suffering due to a skills shortage and although that remains, it picked up to the fastest pace since June
Tim Moore from Markit says;
"Construction firms enjoyed a strong finish to the third quarter of 2015, as a sustained rebound in new development projects continued to have an impact on the ground. Moreover, September data suggests that the UK construction sector is still experiencing its most intense cycle of job hiring for at least 15 years, and consequently skill shortages remain a
dominant concern across the industry. "While the latest survey provides positive news on construction output, jobs and supply-chains, there was a warning light flashing in terms of total new orders. Construction companies have recorded a steady slowdown in new business growth from June's post-election peak and the latest upturn was the second-slowest since mid-2013."
GBPUSD runs up to 1.5173 on the better news but has slid back to 1.5157. The pound in general looks like it's trying to shake its recent bearish coat
UK Markit/CIPS construction PMI