UK: Construction PMI weakened to 50.6 in January - TDS

Analysts at TD Securities note that the UK’s January Construction PMI weakened to 50.6 (mkt: 52.5), its slowest pace since the March 2018 winter storms, as the New Orders and Employment indexes slowed notably.

Key Quotes

“Respondents noted that Brexit uncertainty was weighing on business in the construction sector, which had so far had largely escaped the effects of Brexit. Commercial construction was the weakest sector, with an outright decline registered, while residential construction remained stronger.”