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### UK Construction PMI Data Still..........>
UK DATA: ### UK Construction PMI Data Still Pointing to Sector Weakness
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Despite April's improvement in the headline number, the UK construction PMI
still points to output contraction in the sector. While the headline index rose
from 47.0 in March to 52.5 in April, back above its February value before the
extreme weather hit, historically growth in official quarter-over-quarter
construction output has only been consistent with a headline index value above
the 53.0-mark. With New Orders returning only marginally above the 50-level in
April, signals of underlying weakness also persist. It is worth remembering that
the survey also only captures whether conditions were 'better' or 'worse',
without capturing the magnitude of any such change. So, a marked rebound in Q2
output may not be on the cards just yet.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.