The UK construction sector saw positive changes in June, the official report confirms. Analysts assume that the revised UK GDP figures for Q2 2015 are not going to change the preliminary ones.
In the meantime, the output in the UK construction sector increased by 0.9% over the reporting period as opposed to May 2015. This is confirmed by the latest report published by the Office for National Statistics (ONS). However, the actual figures failed to come up to the expectations of +2.0% after a 1% plunge a month before, Masterforex-V Academy reports.
As far as the year-over-year figures are concerned, the industry improved by 2,6% over the reporting period, which exceeds the 2.1% y/y growth seen in May 2015.
As for quarterly performance, Q2 2015 saw an 0.2% increase relative to Q1 2015. The y/y growth in Q2 2015 reached 2.4%. Still there seems to be a slowdown since May’s report indicated +4,4%.
As for the preliminary report on the UKGDP, which was published in late July, it predicted zero growth in the UK construction sector. Still, the ONS assumes that the current revised figures are not going to influence the revised GDP report for Q2 2015.
FOREX
In the meantime, the British Pound seems to be growing against the U.S. Dollar within the scope of a mid-term uptrend, Masterforex-V Academy experts report. GBPUSD is rallying within the scope of wave 3/C of level Daily or higher.
At this point, the currency pair is developing wave b(C ) of the upward move. A break above the 1.5716 high will give way to further highs. If this is the case, the price may encounter resistance around such levels as 1.5749, 1.5775/89, 1.5870/88.
Alternatively, if the price breaks below the bottom of the ascending MF sloping channel and pivot 1.5562, the current bullish move is going to be complete while is price I getting access to further levels of support.
