The UK construction sector saw a sharp deterioration in July, with the PMI plunging to 44.3 from 48.8 — its lowest level since May 2020 and far below the expected 49.2.
According to S&P Global, British firms cited a lack of tender opportunities and growing hesitancy from clients amid both domestic and international uncertainty. The data reinforces broader concerns about the UK’s economic momentum heading into the second half of the year.
In the Eurozone, June retail sales rose 0.3% mom, shy of the expected 0.4% mom. Modest gains were seen across food, non-food, and fuel categories. Adding to the downbeat tone, German factory orders unexpectedly declined by -1.0% mmm in June, missing forecasts for a 1.0% mom rise.
