FOREX TradingCharts.com

Financial News: UK Construction Sector Continues To Contract

UK Construction Sector Continues To Contract

08/02/2019 - 04:46:00 (RTTNews)

(RTTNews) - The UK construction sector continued to shrink in July, survey data from IHS Markit showed Friday.

The IHS Markit/Chartered Institute of Procurement & Supply construction Purchasing Managers' Index rose to 45.3 in July from June's ten-year low of 43.1. The score was forecast to climb to 46.0.

But a reading below 50 indicates contraction in the sector. The indicator has been below 50 for the fifth time in the past six months.

Commercial construction was the worst performing category in July, followed closely by civil engineering activity. House building fell for the second month in a row in July, but the pace of decline was moderate.

"Moving into the second half of the year it will take the sector some time to dig its way out of this deep hole," Duncan Brock, group director at the CIPS, said.

As the autumn and the potential negative impacts of a no-deal exit from the EU threaten, any significant recovery is unlikely to be on the horizon until 2020, Brock noted.

There was a sharp drop in construction new order intakes reflecting subdued economic conditions and domestic political uncertainty. Consequently, employment numbers were cut back in July.

Weaker demand contributed to a slide in business optimism towards the year-ahead outlook for construction activity, with the degree of confidence the lowest since November 2012.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Fed Intends To Remain Flexible Regarding Future Interest Rate Cuts (02 hr(s), 14 min(s), 25 sec(s) ago)
(RTTNews) - Citing a lack of clarity about when the risks to the U.S. economy will be resolved, th ...Full Story»

Zambia Holds Rate Steady On High Inflation, Weaker Growth Outlook (06 hr(s), 30 min(s), 25 sec(s) ago)
(RTTNews) - Zambia's central bank left its key interest rate unchanged on Wednesday, after rai ...Full Story»

Spain Exports Rise In June (06 hr(s), 44 min(s), 25 sec(s) ago)
(RTTNews) - Spanish merchandise exports rose 0.9 percent year-on-year in June, mainly due to incre ...Full Story»

U.S. Existing Home Sales Rebound More Than Expected In July (06 hr(s), 44 min(s), 25 sec(s) ago)
(RTTNews) - Existing home sales in the U.S. showed a notable rebound in the month of July, accordi ...Full Story»

Continued Monitoring Of Financial Stability Risks Needed: Thailand CB Minutes (07 hr(s), 27 min(s), 25 sec(s) ago)
(RTTNews) - Risks to financial stability such as high household debt, warrants continued monitorin ...Full Story»

Belgium Consumer Confidence Lowest Since November 2016 (07 hr(s), 50 min(s), 25 sec(s) ago)
(RTTNews) - Belgium's consumer confidence dropped sharply in August after a modest improvement ...Full Story»

UK Budget Balance Posts Small Surplus In July (09 hr(s), 19 min(s), 25 sec(s) ago)
(RTTNews) - The UK budget balance showed a small surplus in July, figures from the Office for Nati ...Full Story»

Latvia Producer Price Inflation Slows Further (10 hr(s), 22 min(s), 25 sec(s) ago)
(RTTNews) - Latvia producer price inflation slowed for the seventh straight month in July, figures ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Fed Intends To Remain Flexible Regarding Future Interest Rate Cuts

08/21/2019 - 14:47 PM (RTTNews)
(RTTNews) - Citing a lack of clarity about when the risks to the U.S. economy will be resolved, th ...Full Story>>

Zambia Holds Rate Steady On High Inflation, Weaker Growth Outlook

08/21/2019 - 10:31 AM (RTTNews)
(RTTNews) - Zambia's central bank left its key interest rate unchanged on Wednesday, after rai ...Full Story>>

U.S. Existing Home Sales Rebound More Than Expected In July

08/21/2019 - 10:17 AM (RTTNews)
(RTTNews) - Existing home sales in the U.S. showed a notable rebound in the month of July, accordi ...Full Story>>

Spain Exports Rise In June

08/21/2019 - 10:17 AM (RTTNews)
(RTTNews) - Spanish merchandise exports rose 0.9 percent year-on-year in June, mainly due to incre ...Full Story>>

Continued Monitoring Of Financial Stability Risks Needed: Thailand CB Minutes

08/21/2019 - 09:34 AM (RTTNews)
(RTTNews) - Risks to financial stability such as high household debt, warrants continued monitorin ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.