UK construction PMI rebounds to 45.3 in July vs. 46.0 expected, GBP/USD moves little
|
The construction sector activity in the UK witnessed a modest rebound in July but remained in the contraction territory for the fifth month in the previous six, the latest survey report from Markit Economics showed this Friday.
In fact, the final Purchasing Managers' Index (PMI) posted 45.3 in July, up from the previous month's dismal reading of 43.1 - marking its steepest decline since April 2009, and below consensus estimates pointing to a reading of 46.0.
The data, however, did little to provide any meaningful impetus to the British Pound, with the GBP/USD pair extending its sideways consolidative price action above the 1.2100 handle.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.