The Purchase Managers index on UK construction activity released by Markit yesterday showed that activity in the sector slipped by 0.8 points to 51.2 in May. In April, UK construction PMI eased back to 52.0. May's construction PMI marks a second consecutive month of decline in activity in the sector. Construction firms reported that output growth was easing to the weakest level in nearly three years and also incoming work orders were falling for the first time since April 2013. The construction PMI survey participants noted however that they were optimistic about growth outlook in the sector. Markit's construction PMI report also made a note that businesses in the construction sector were particularly concerned about the detrimental impact on business on the uncertainty surrounding the June 23 EU membership referendum.
OPEC Meeting: No agreement on production ceiling
Daily Analysis - 03/06/2016