UK January construction PMI 48.8 vs 47.3 expected ...Middle East

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UK January construction PMI 48.8 vs 47.3 expected
Prior 46.8The reading still shows a contraction but at least it is the highest since August last year. That shows some improvement in overall activity with the fall in new orders this time around being rather marginal. House building (44.2) remains the worst performing segment with marginal declines observed in civil engineering (49.2) and commercial building (49.1). A positive takeaway is that business activity expectations were the strongest since January 2022. S&P Global notes that:"UK construction companies seem increasingly optimistic that the worst could be behind them soon as recession risks fade and interest rate cuts appear close on the horizon. The prospect of looser financial cond

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