Market comment

Contraction in UK construction output intensifies


Friday’s UK construction output data showed a 3.2% contraction on the year, led by commercial investment and weak public capital expenditure. New orders data and the construction sector PMI suggest that conditions will remain weak. Pressure has mounted on Chancellor Philip Hammond to relax the budgetary purse strings in his spring budget statement on Tuesday (March 13th). However, it looks unlikely that Hammond will deviate from existing plans.

Download full report with analyst certification and important disclosures

Mar 12 2018, 08:10 GMT