FOREX TradingCharts.com

Financial News: UK Construction Downturn Softens To Near Stabilization

UK Construction Downturn Softens To Near Stabilization

03/06/2024 - 06:28:00 (RTTNews)

(RTTNews) - The downturn in UK construction activity eased in February amid improved demand conditions, survey results from S&P Global showed on Wednesday.

The Construction Purchasing Managers' Index, or PMI, rose to 49.7 in February from 48.8 in January. The score was expected to increase to 49.0.

However, any score below 50 indicates contraction in the sector.

February saw a near-stabilisation of business activity across all three main categories of construction, the survey said. The house building saw the biggest turnaround since January.

New orders grew for the first time in seven months in February, though marginally. The recovery in new business was attributed to a turnaround in tender opportunities and greater client confidence, especially in the housebuilding segment.

Despite positive trends for order books and sales pipelines, construction employment declined further, and the rate of job shedding marked the fastest since November 2020.

On the price front, input price inflation eased from January's eight-month high due to price discounts amid intense supplier competition.

British constructors expressed the strongest degree of business optimism for just over two years in February amid hopes of new project starts and positive signals for customer demand, partly linked to expected interest rate cuts.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Malaysian Economic Growth Fastest In A Year (05 hr(s), 45 min(s), 13 sec(s) ago)
(RTTNews) - Malaysia's economic expansion accelerated in the first quarter, driven by positive ...Full Story»

Greece Current Account Deficit Widens (06 hr(s), 28 min(s), 13 sec(s) ago)
(RTTNews) - Greece's current account deficit increased in February from a year ago due to a de ...Full Story»

Spain Trade Gap Narrows Slightly (07 hr(s), 20 min(s), 13 sec(s) ago)
(RTTNews) - Spain's foreign trade deficit decreased somewhat in February from a year ago as im ...Full Story»

UK Retail Sales Stable In March (08 hr(s), 53 min(s), 13 sec(s) ago)
(RTTNews) - UK retail sales were unchanged on a month-on-month basis in March, defying expectation ...Full Story»

Italy Construction Output Falls 3.9% (09 hr(s), 07 min(s), 13 sec(s) ago)
(RTTNews) - Italy's construction output decreased for the first time in five months in Februar ...Full Story»

German Producer Prices Fall At Slower Pace In March (11 hr(s), 08 min(s), 13 sec(s) ago)
(RTTNews) - Germany's producer prices continued to decline in March, though at the slowest pac ...Full Story»

Japan Inflation Data Due On Friday (17 min(s), 47 sec(s) ago)
(RTTNews) - Japan will on Friday release March national figures for consumer prices, highlighting ...Full Story»

Treasury Reveals Details Of Two-Year, Five-Year & Seven-Year Note Auctions (01 hr(s), 16 min(s), 13 sec(s) ago)
(RTTNews) - The Treasury Department on Thursday announced the details of this month's auctions ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Malaysian Economic Growth Fastest In A Year

04/19/2024 - 08:00 AM (RTTNews)
(RTTNews) - Malaysia's economic expansion accelerated in the first quarter, driven by positive ...Full Story>>

Greece Current Account Deficit Widens

04/19/2024 - 07:17 AM (RTTNews)
(RTTNews) - Greece's current account deficit increased in February from a year ago due to a de ...Full Story>>

Spain Trade Gap Narrows Slightly

04/19/2024 - 06:25 AM (RTTNews)
(RTTNews) - Spain's foreign trade deficit decreased somewhat in February from a year ago as im ...Full Story>>

UK Retail Sales Stable In March

04/19/2024 - 04:52 AM (RTTNews)
(RTTNews) - UK retail sales were unchanged on a month-on-month basis in March, defying expectation ...Full Story>>

Italy Construction Output Falls 3.9%

04/19/2024 - 04:38 AM (RTTNews)
(RTTNews) - Italy's construction output decreased for the first time in five months in Februar ...Full Story>>

Do not sell my personal information

Copyright © 2024. 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.