Monthly Index Indicating Economic Activity in the UK's Construction Sector
United Kingdom| Date | Value | ||
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The Construction Purchasing Managers' Index (PMI) is a crucial indicator used to assess economic activity in the UK's construction sector. Compiled based on a monthly survey conducted by IHS Markit, the PMI gathers data from construction purchasing managers regarding new orders, inventory levels, employment conditions, supplier deliveries, and price trends.
The PMI uses 50 as the benchmark: a reading above 50 indicates expansion in the construction sector, while a reading below 50 signifies contraction. The survey results are released monthly, providing market participants with timely feedback on the current state of the economy. Given the construction sector's significant role in the broader economy, this index is vital for evaluating overall economic health.
The PMI results can influence corporate strategies and government policy decisions. Unexpected PMI figures, in particular, can significantly impact financial markets. For instance, if the PMI is higher than anticipated, it indicates that the economy is expanding more robustly than expected, potentially leading to an appreciation in the value of the pound.
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