UK July Construction PMI Falls to 11-Month Low of 51.9 -- Market Talk

Features Dow Jones Newswires

0841 GMT - The IHS Markit/CIPS purchasing managers' index on U.K. construction sector activity falls to its lowest since August 2016 in July, at 51.9, down sharply from 54.8 in June. July's slowdown reflectws "lower volumes of commercial building and a softer expansion of housing activity," according to Markit, which compiles the survey. The survey also showed reduced new business volumes for the first time since August 2016, while prices for construction materials increased at one of the sharpest rates since 1H 2011. Sterling falls against a buoyant euro after the data, with euro/sterling rising to 0.8965, from 0.8954 beforehand. (jessica.fleetham@wsj.com)

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August 02, 2017 04:56 ET (08:56 GMT)