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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
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."