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4 Jun 2013
Flash: UK PMI improved - TD Securities
FXstreet.com (London) - The UK Construction PMI improved from 49.4 to a better than expected 50.8.
TD Securities research teams said that within the sub-indices, residential construction is at its highest level since the peak initial recovery in 2010, but commercial and civil construction continues to remain in mild contractionary territory. After upside surprises to the manufacturing and construction PMIs, they are more confident in the Services PMI tomorrow holding onto its recent gains, but still think there is limited upside as it was running ahead of other surveys.
TD Securities research teams said that within the sub-indices, residential construction is at its highest level since the peak initial recovery in 2010, but commercial and civil construction continues to remain in mild contractionary territory. After upside surprises to the manufacturing and construction PMIs, they are more confident in the Services PMI tomorrow holding onto its recent gains, but still think there is limited upside as it was running ahead of other surveys.