News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
UK Construction Expands at Fastest Pace in 21 Months

UK Construction Expands at Fastest Pace in 21 Months

Benjamin Spier, Technical Strategist

UK PMI Construction comes in at 56.7 versus 54.3 expected -> Building expands at fastest pace in 21 months -> GBP/USD gives slight gains following report

The UK purchasing managers’ index (PMI) for construction, which measures market sentiment in the construction sector, came in at 56.7 for March. It is the fastest expanding construction result in 21 months and beat analysts’ expectations by 2.4 points.

The PMI is based on a survey of purchasing managers conducted by Markit Economics Ltd. and the Chartered Institute of Purchasing and Supply. Any result above 50 is considered expansion; and February’s PMI construction came in at 54.3.

GBP/USD reaction was relatively muted as focus remained elsewhere, and the pair now sits with a slight daily gain. However, the rate is still far from yesterday’s high of 1.6060. GBP/JPY saw a small jump of ten points following the report.

UK_Construction_Expands_at_Fastest_Pace_in_21_Months_body_gbp.png, UK Construction Expands at Fastest Pace in 21 Months

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.