UK: Disappointing construction PMI data – TDS

Analysts at TD Securities note that the UK Construction PMI data was disappointing as it fell to 52.1 in September.

Key Quotes

“Details showed that civil engineering was the worst-performing sector, while house and commercial construction continued to grow at a slightly slower pace than August. New order growth was at its strongest pace since December 2016, and the increase in employment was at its strongest since December 2015 amidst stories of a tighter labour market.”