Germany’s construction activity expanded at the weakest pace in ten months in November, survey data from IHS Markit showed Wednesday.
The headline Purchasing Managers’ Index dropped to 53.1 in November from 53.3 in October. However, any reading above 50 indicates expansion in the sector.
Among sectors, both housing and commercial construction activity registered solid increases in November.
At the same time, civil engineering activity declined for the first time in a year, dropping at the sharpest rate since August 2015 and weighing on overall industry performance.
New orders received by constructors dropped for the first time in 12 months, though slightly.
The pace of job creation was strong, but eased further from September’s recent peak.
On the price front, input costs rose sharply in November amid higher prices of raw materials and construction products. Nonetheless, the rate of cost inflation eased to a 4-month low.
The survey’s indicator of future expectations, meanwhile sank to its lowest level since November 2016.
Source: RTT News