Bullish Construction Figures Alleviate Brexit Pressure
Whilst the traffic lights of Brexit are very much on amber as the political storm of a snap election sweeps over the UK, it would be a misnomer to suggest key economic data points are being adversely impacted.
This morning a bullish Construction PMI figure on the home-front reaffirms the three-year high seen yesterday for the Manufacturing sector, exemplifying progress is not being halted. Growth is solid across the Services and Manufacturing/Construction sectors, which are absent in many newspaper headlines as political ‘turmoil’ grabs most of the ink throughout any given trading day. Whilst US growth has slipped, the eurozone have a plethora of problems from QE to French election disarray, many forget the hard economic facts for the UK are making reasonably good progress in the face of Brexit adversity.