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UK August Construction PMI seen sliding to 61.5 - TD Securities

Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities expects the UK Construction PMI to drop from from 62.4 to 61.5 in August.

Key quotes

"Risks appear to be two-sided."

"The last couple of PMI reports have mentioned lengthening supplier delivery times, suggesting that there’s still plenty of demand in the pipeline."

"But August also saw exceptionally cold and rainy weather, which may have hampered building activity, plus the manufacturing PMI recorded a larger than expected drop."

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