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PMI construction disappointed and was.......>

UK DATA
UK DATA: PMI construction disappointed and was mixed in the details. Highlights
from the press release:
- "Building activity fell at the second-fastest rate since April 2009, only
narrowly outpaced by June's decline."
- "A historically steep drop in new orders was also registered, while firms
trimmed employment
at the fastest rate since the end of 2010 due to unfavourable
demand, client hesitancy and low confidence."
- "Looking ahead, UK construction firms were mildly optimistic that output
volumes would pick up over the coming 12 months, although the level of business
confidence was weak by historical standards."

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