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Housebuilding backs moderate rebound in British construction
The previous month housebuilding caused a recovery in the UK construction industry, thus offsetting weakness in other parts of a mostly dismal sector, as a poll unveiled on Monday.
In November, the IHS Markit/CIPS UK Construction PMI managed to hit a five-month maximum of 53.1 versus October’s outcome of 50.8. It surpassed all estimates in a Reuters survey of market experts. The given upturn was generated solely by the residential sector.
Commercial along with civil engineering activity kept contracting notwithstanding a marked easing in cost pressures. On November 22 UK finance minister Philip Hammond revealed a series of measures to spur house-building that has lagged demand for years and caused a steep ascend in house prices. By the way, as IHS Markit informed, up to 70% of responses to the poll were gathered prior to the budget speech.
Confidence about business prospects over 2018 soared to a three-month maximum, while keeping to nearly three-year minimums.
Considering current Treasury yield spreads, the chance of a recession is now nearly 99.3% - 100%. Read the full report to learn more!
It’s Wednesday, the froggy day for the whole internet. Here’s news that moves the market:
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
The United States has one week before default, and NVIDIA may become the next Tesla. What else drives the market?
Some progress in US debt ceiling talks is made, and the PMI data is out.