The volatile nature of UK construction output (09.30 BST) means that we could see a sharp rise in February after the fall in January. After all, the construction PMI has risen in the past couple of months. That said, it may be too early for this improvement to be showing up in the more lagging official construction figures. What’s more, other indicators, such as construction orders, have been less positive. February’s industrial production figures (09.30 BST) should show that the recent pick-up in the industrial surveys is starting to feed through to the official data. “We have pencilled in no change to construction output in Feb. We forecast a 0.3% m/m rise in both manufacturing output and overall production. But this would still leave production unlikely to rise by much in Q1 as a whole.” – says Capital Economics
The material has been provided by InstaForex Company – www.instaforex.com