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January 2016

UK Construction Sector boosted

Published: Tuesday 05 January 2016

This morning the UK released Construction PMI Data. PMI is a survey of purchasing managers asking respondents to rate conditions within their sector, things such as employment, production, new orders to name a few. A figure above 50 indicates industry expansion and under 50 contraction. This morning’s figure was expected to show expansion with a figure of 56.1. The actual figure was even better released at 57.8. GBP was boosted by this news and as a result has appreciated by over half a percent against the EUR. 

Latest FX news by Michael Condron

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