Activity in Britain's Construction Sector Slowed to 6-Month Low
Business activity in the UK construction sector fell to the lowest level in six months in September, amid increasing uncertainty over Brexit. The Purchasing Managers’ Index (PMI) for the month was 52.1, down from 52.9 in August, and the lowest reading since March. Confidence among construction managers was also the lowest since early 2013.
Yesterday’s data showed, that the manufacturing sector activity in the UK economy unexpectedly saw an upturn in the month of September. The manufacturing Purchasing Managers' Index (PMI) in the UK increased to 53.8 points in September, as compared to a previous 52.8 reading. Markets had predicted the PMI to tick down to 52.5.
The PMI for services, which account for 80% of the UK economy, will be released on Wednesday.