The disruption in March due to the “Beast from the East” caused UK construction industry’s largest decline since the Brexit vote in June 2016.
In February, the PMI (Purchasing Managers’ Index) for the UK construction industry was 51.4 – today’s release shows the sector at 47 which is below the 50 point that divides growth from contraction.
Shortly after the release, Eurozone announced the results on February’s unemployment data and of preliminary March CPI. With the unemployment rate predicted to drop 8.5%, it is expected that there will be a rise in inflation based on prior results.
This afternoon, the U.S. is to release its ADP employment report as well as Services PMI data which is predicted to hold firmly at about 54 for March.
On Thursday, the key data releases consist of Service data from the UK, Germany and the Eurozone. The data is anticipated to hold at about 55 and 54 (UK and DE).
Friday includes a data event from the U.S. Labour market which will release its newest Non-Farm payrolls for March and consist of unemployment rate, average hourly earnings and participation rates.
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