Construction PMI

Good news for the UK economy mid-week with the release of some better-than-forecast data from the construction sector.

The UK’s construction sector is firmly back in growth following the mid-year slump in activity.

The rally in Pound Sterling against its major counterparts has offered welcome relief to those with outstanding international payments, but we are told not to expect the trend to continue.

Pound Sterling is looking surprisingly firm despite news that UK Construction PMI data fell at its fastest pace since 2009.

The UK construction sector unexpectedly declined in June; heralding the start of what some analysts believe will be a recession that will last for three quarters.

We have had two notable data releases from the UK economy already in May - and both have proved to be sterling-negative.

The Sunday papers astonished readers yesterday with the revelation that rich people use the tax haven, Panama, as a tax haven.