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Financial News: Germany Construction Activity Expands In February

Germany Construction Activity Expands In February

03/06/2019 - 07:30:00 (RTTNews)

(RTTNews) - Germany's construction activity expanded for the fourth successive month in February as new orders and employment rose, survey results from IHS Markit showed on Wednesday.

The headline construction Purchasing Managers' Index rose to 54.7 in February from 50.7 in January. The latest reading was the quickest since January 2018.

Any reading above 50 indicates expansion in the sector.

Housing activity remained strong, accelerating to the strongest rate in over a year. Civil engineering activity also grew at a faster rate.

New order growth recovered in February after slowing down in January. Business confidence rose to nine-month high.

Staffing level and purchasing activity increased with rise in new construction projects.

Cost pressure rose due to increase in purchase of building materials and products, while the rate of inflation dipped slightly since January remaining the fastest seen over the past eight years.

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