UK construction PMI to rise in June

UK's construction PMI peaked at a high level in 2014, driven by a surge in housing construction.

That has cooled, as has the temporary surge in infrastructure construction fuelled by a need to rebuild flood defences in parts of southern England. But the shock May election result saw a housing-friendly Conservative administration come to power.

"This should lead to a post-election increase in housing construction which should push up the PMI from 55.9 to 56.5", says Societe Generale.