Seeking Alpha

U.K. construction adds to strong economic picture

  • U.K. construction activity unexpectedly increased to its highest level in six years in August as PMI rose to 59.1 from 57 in July and topped consensus of 56.8.
  • There was "robust expansion" in all three sub-sectors: house building, commercial growth and civil engineering.
  • "Builders have seen a step change in recent months and are now starting to show their true potential to the U.K. economy," says the Chartered Institute of Purchasing & Supply.
  • The construction PMI adds to strong manufacturing PMI.
  • The pound is +0.2% at $1.5569, although the FTSE 100 is -0.6%. (PR)
  • ETFs - Stocks: FKU, EWU, EWUS, DXPS. Currency: GBB, FXB
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