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In July, British construction sector activity went down more than expected, reaching an 11-month minimum, as industry data revealed on Tuesday.
Market research company IHS Markit along with the Chartered Institute of Purchasing & Supply informed that their British construction purchasing managers' index descended to a seasonally adjusted reading of 51.9 the previous month from June’s result of 54.8.
Financial experts had expected the index to inch down to 54.5 in July.
IHS Markit stressed that the reading appeared to be its weakest outcome since August 2016. It’s because commercial work decreased at the fastest tempo for 12 months.
The research company added that a dip in fresh orders provoked softer job creation in July.
July data discloses a surge slowdown in the British construction sector, mostly powered by lower volumes of commercial development as well as a loss of momentum for house building.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
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