UK Construction PMI likely to record slight drop in November

UK's Markit construction PMI for the month of November is expected to be dropping slightly to 58.6 by market consensus, from that of its previous month's 58.8 reading.

The construction PMI suggests solid growth in the sector, contrast to the weakness showed by the official construction data. This strength is likely to continue.

"The picture should be little changed in the November survey, given the lack of change in the underlying conditions. We predict a small drop from 58.8 to 58.5", says Societe Generale in a research note.