Analysts at TD Securities note that the UK’s construction PMI tanked in June, falling from 48.6 to 43.1 (mkt 49.2), its lowest level since April 2009.
Key Quotes
“The main source of downward pressure was political and economic uncertainty, with Brexit still looming and a new Conservative party leader and prime minister on the horizon. As a result, we’ve downgraded our forecast for tomorrow’s services PMI, and now look for it to print below 50.”
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