2 Jul 2014
UK PMI Construction to stick around current levels - TD Securities
FXStreet (Łódź) - Prashant Newnaha Asia-Pacific Macro Strategist at TD Securities believes that the UK PMI construction numbers, due out in the European morning, should remain close to the current levels, in the light of continued strong activity.
Key quotes
"While the construction PMI has come off its peaks, we think that it’s likely to stick around current levels as activity remains strong."
"Last month the major factor behind the decline was the commercial construction side, but with investment intentions still looking solid, we don’t see any reason for that fall to be permanent, while the residential side should continue to hold up given the continual shortage of housing in the UK."
"Markets are looking for a small decline from 60.0 to 59.8, but we think that the risks lie slightly to the upside."
Key quotes
"While the construction PMI has come off its peaks, we think that it’s likely to stick around current levels as activity remains strong."
"Last month the major factor behind the decline was the commercial construction side, but with investment intentions still looking solid, we don’t see any reason for that fall to be permanent, while the residential side should continue to hold up given the continual shortage of housing in the UK."
"Markets are looking for a small decline from 60.0 to 59.8, but we think that the risks lie slightly to the upside."