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Financial News: German Construction Growth Strongest In 4 Months

German Construction Growth Strongest In 4 Months

01/05/2018 - 06:36:00 (RTTNews)

(RTTNews) - Germany's construction activity expanded at the fastest pace in four months in December, buoyed by strong growth in commercial building work, survey data from IHS Markit showed Friday.

The headline Purchasing Managers' Index climbed to 53.7 in December from 53.1 in November. Any reading above 50 indicates expansion in the sector.

Among sectors, commercial activity was the main driver of growth in December.

There was also a moderate increase in the level of work on residential building projects, while civil engineering activity declined for the second straight month.

New orders returned to growth in December after having fallen for the first time in over a year in November. Employment and purchasing activity expanded at weaker rates.

Firms' confidence towards future performance improved to a 5-month high in December, recovering from a 12-month low in November.

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