Wednesday preview: UK construction PMI data released

The Markit/CIPS UK construction purchasing managers index (PMI) data for March will be unveiled Wednesday, a day after figures showed a spike in manufacturing and services exports.

The construction PMI is expected to rise to 48 in March, according to the consensus forecast, from February's drop to 46.8 - the lowest since October 2009 - which sunk further below the 50 level that separates growth from contraction.

"Downward pressure on client budgets, alongside subdued public sector spending, again led to lower output levels and reduced new order inflows," said Tim Moore, senior economist at survey compiler Markit, alongside the February data.

However the British Chamber of Commerce on Tuesday signalled a boost to the UK economy as its survey revealed a jump in exports of manufacturing and services industries driven in part by a weak pound in the first quarter of 2013.

The manufacturing export deliveries balance rose six points to +19% while the orders balance climbed 11 points to +22%, the best levels since the second quarter of 2012.

The service export deliveries balance jumped nine points in the first quarter to +33% and orders increased eight points to +26%, the highest levels since the fourth quarter of 1994.

However employment has weakened with manufacturing down four points to +11% and services down one point to +11%.

BCC Chief Economist David Kern said the first quarter improvement shows that UK output has continued to grow in the early months of 2013.

"The survey reinforces our assessment that recent [official] gross domestic product [GDP] figures have exaggerated the weakness of the UK economy and the volatility in output," he said.

Wednesday April 3rd

INTERIM DIVIDEND PAYMENT DATE

Darty, Hansard Global

INTERIM EX-DIVIDEND DATE

Finsbury Food Group, Henderson EuroTrust, Produce Investment, RIT Capital Partners, Smith (DS), Wolseley

QUARTERLY EX-DIVIDEND DATE

Investors Capital Trust 'A' Shares, Investors Capital Trust 'B' Shares, JP Morgan Chase & Co, Torchmark Corp.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Consumer Price Index (EU) (10:00)

Crude Oil Inventories (US) (15:30)

Harmonised Index of Consumer Prices (EU) (10:00)

MBA Mortgage Applications (US) (12:00)

Speech President San Francisco Fed (20:30)

Speech President St.Louis Fed (22:00)

US ADP employment report (13:15)

China non-manufacturing PMI (02:00)

GMS

Beacon Hill Resources, Obtala Resources Ltd

FINALS

Bond International Software

SPECIAL EX-DIVIDEND PAYMENT DATE

Standard Life

EGMS

Scotty Group SE (CDI)

AGMS

RCM Technology Trust

TRADING ANNOUNCEMENTS

Andor Technology

UK ECONOMIC ANNOUNCEMENTS

BRC Shop Price Index (00:01)

PMI Construction (09:30)

FINAL DIVIDEND PAYMENT DATE

Greencore Group

FINAL EX-DIVIDEND DATE

32Red, 4Imprint Group, Acencia Debt Strategies Ltd., Belvoir Lettings, Charlemagne Capital Ltd., Delcam, Dragon Oil, F&C Asset Management, Foreign and Colonial Inv Trust, Hammerson, HGCapital Trust, Interserve, Jardine Lloyd Thompson Group, Keller Group, Pearson, Phoenix Group Holdings (DI), RSA Insurance Group, SpaceandPeople, Standard Life, Stanley Gibbons Group

RD