Britain’s Construction PMI Climbs
In line with yesterday’s upbeat manufacturing PMI reading in the UK, today’s report has shown that construction PMI in the nation improved unexpectedly for February. Going forward, tomorrow’s services PMI data will be noted to gauge the overall performance of Britain’s private sector activity, especially considering the dominant role of the services sector in the nation’s economy.
Across the Atlantic, yesterday’s ISM print showed that manufacturing activity in the US expanded at a slower pace than anticipated for February and continued on its decelerating trend for a fourth straight month. In the Euro zone, after yesterday’s better than expected preliminary consumer price inflation reading, today’s upbeat German retail sales numbers have temporarily eased concerns about the region’s economy.