UK: Focus on construction PMI and Conservative Party’s conference - TDS

Analysts at TDS are in line with consensus in looking for the UK construction PMI to come in unchanged at 51.1 in September.

Key Quotes

“The weakness in the manufacturing PMI yesterday points to some downside risks, giving the growing concern there about rising input prices. Today the FPC is also releasing the minutes from its last meeting, although we’re unlikely to see much market reaction there.”

“Markets might focus more closely instead on the Conservative Party conference today, with the heavy hitters Amber Rudd (10:00-12:30), David Davis (14:00-14:50) and Boris Johnson (14:50-16:00) all on today’s speaking schedule. GBP started off the quarter on a weak note yesterday, and any further political uncertainty could lead to further downward pressure.”