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04.06.2019 19:21

UK's construction PMI unexpectedly dropped in May - TDS

Analysts at TD Securities note that the UK’s construction PMI unexpectedly dropped in May to 48.6, its lowest reading since the Beast of the East-influenced March 2018 drop.

  • 0“While house building was up modestly, engineering and commercial work were lower. Brexit uncertainty continued to dominate commercial building and civil engineering activity. We have now seen 2 of the 3 UK PMIs slip below 50 in May, which doesn't bode well for Q2 GDP, which is already expected to pullback sharply on account of an inventory unwind.”


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