United Kingdom construction PMI came in considerably worse than expected at 54.2 (cons: 57.4), extending the sharp drop seenin the last reading. UK economist notes that the slower momentum stretches across activity and new orders subcomponents with the Markit report citing election uncertainty as a reason for delaying spending decisions. “This afternoon we get the service sector report, where we look for a reading in line with last month’s at 58.9 (cons: 58.5)”, says RBC Capital Markets.
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