Home » Currency Note » Currency Note » Currency Note GBP » GBP: UK house price growth picks up from five-year low

The only economic data release of note from the UK on Friday was the Nationwide housing prices for October. The figures showed that growth picked up to 1.9% in November, from the previous month’s five-year low of 1.6%. The average price of a home in the UK is now £214,044 following a 0.3% rise in the past month. However, Nationwide’s chief economist, Robert Gardner, said that a backdrop of economic uncertainty will probably stifle demand in the coming months.

Today kicks off with the final reading of November’s Markit manufacturing purchasing managers’ index. Last month, the figure weakened to 51.1 which was well below expectations of 53. However, it is expected to pick up to 53.0 this time around. Tomorrow we will see construction PMI and on Wednesday, new car sales for last month are released.

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