DevDosh Ltd is pleased to report that the growing Great Britain story is still in progress. Or in the instance of the first section of this blog we should probably call it Building Britain.
UK Construction PMI
The UK Construction PMI rose well in advance of market expectations. February’s UK Construction PMI rose to 52.6 from 48.4 in the previous month. As I’m sure regular readers remember a PMI of 50 or above is a sign of sector growth moving forwards. That is great news for the economy in general as construction contributes 7% of GDP and employs over 2.4 million workers. Demand for sub-contractors picked up and hasn’t been this high since December 2018. In addition of course the fruits of their labour generate much needed homes and more positive figures like the one we published yesterday highlighting mortgage growth.
It is good to see that both residential and commercial property sector expanded. In fact this is the first time commercial output grew since November 2018. The brakes are being taken off projects that have been sitting in abeyance for years.
Carney on Corona
Mark Carney addressed parliament yesterday and reassured everyone that the Bank of England will be vigilant over the Corona virus and it’s effect on the UK. He said that the bank will take all necessary steps to support the economy. He also said that his committee will only make decisions at the appropriate time and not before which is a reassuring and measured to tone to take towards proceedings in our opinion.
The construction PMI news is great for DevDosh Ltd. It is the space that our funding will be supporting and so the fact that it is expanding again is just the ticket for our investors. Contact us today for the safest 10% yield in the current fixed income investment market.