UK: Construction PMI likely to rebound to 46.5 in August – TD Securities

Analysts at TD Securities are in line with consensus in looking for the construction PMI to rebound to 46.5 in August, from unusually low readings over the prior two months.

Key Quotes

“UK markets will likely be watching political developments for direction though, with parliament sitting again today and big plans in the works to try to thwart any chances of a no-deal Brexit.”

“Parliament returns after its summer break, with the opposition planning to table a bill requiring Boris Johnson to request an extension to Article 50. The PM has pushed back on rebels within his own ranks by threatening to call an election should he lose a business motion on Tuesday. He would need support of at least 434 MPs (out of 650) for an election to be held; this vote could come as soon as Wednesday, with an election rumoured for the week of 14 October.”