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Financial News: German Construction Activity Expands Most Since Early 2016

German Construction Activity Expands Most Since Early 2016

04/06/2017 - 03:48:00 (RTTNews)

(RTTNews) - Germany's construction activity expanded at the fastest pace in more than a year in March, survey data from IHS Markit showed Thursday.

The construction Purchasing Managers' Index rose to 56.4 in March from 54.1 in February. A reading above 50 indicates expansion in the sector.

This was the highest score since February 2016 and the sector extended the current survey-record sequence of expansion to 26 months. Moreover, the score was at its third-highest level since early-2011.

The upturn in the sector was broad-based across sectors. Residential, commercial and civil engineering all registered stronger increases in activity, with house-building rising at the fastest rate.

Moreover, new orders climbed at the second-fastest rate on record and the 12-month outlook for the sector was the strongest in the survey history.

There were signs of inflationary pressures, however, as input price inflation hit a five-year high and sub-contractor prices increased at one of the strongest rates since the survey began in 1999.

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