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UK: PMI Construction slides to 48.7 in December

By FXstreet.com,  January 03, 2013, 04:38:00 AM EDT

FXstreet.com (Barcelona) - UK PMI Construction dropped to 48.7 points in December, from 49.3 points in November, according to data released today by Markit. Market experts projected an increase to 49.5 points.

According to David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply: "Confidence in the construction sector is now lower than the four year post-recession average, reflecting the poor performance of the sector in the final month of 2012. December witnessed the fastest decline in output in six months and a huge drop in new business, signalling trouble for the year ahead."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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