UK construction PMI slows to six-month low in September

  • by Ahmed Mamdouh
  • October 2, 2018, 8:41 AM
  • 323 Views
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U.K. construction sector growth slowed more than forecast in September, falling to its lowest level in six months amid Brexit fears.  

Construction Purchasing Managers’ Index scored 52.1 last month from 52.9 in August, while analysts had called for a slight retreat to 52.8.

“Construction companies noted that political uncertainty and investor concerns about Brexit had dampened confidence in September.” Markit said.

As of 08:40 GMT, the British pound widened its losses to $1.2974, the lowest level in nearly three weeks.

On Wednesday, the U.K. will release its dominant services sector PMI figures, which would provide a complete picture about the health of the economy in the third quarter.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at Ofeed.com, with 11 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from the American University in Cairo and a Bachelor Degree in Economics from the Faculty of Economics and Political Science, Cairo University.

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