020 7898 0500The main release of the day was construction PMI which showed that UK construction growth hit its highest level for seven months. The figure had been expected to dip a little, from 52.5 in May to 52.4. However, it actually came in better than expected, at 53.1 which could serve as evidence that the UK economy is recovering a little from the poor performance in the first months of this year.
Today we’ll see the services PMI which wouldn’t ordinarily matter all that much, but in the context of yesterday’s construction PMI, it will be very interesting to see what the figure is. It is expected to hold steady at 54.0, so any figure over that will likely be well received.
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