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Financial News: Germany's Construction Activity Growth Slows In January

Germany's Construction Activity Growth Slows In January

02/06/2017 - 03:44:00 (RTTNews)

(RTTNews) - German construction firms registered slower growth in January but were more optimistic about the coming year, survey data from IHS Markit showed Monday.

The construction Purchasing Managers' Index fell to 52.0 in January from December's nine-month high of 54.9. This was the lowest score since last August.

Nonetheless, a reading above 50 indicates expansion in the sector.

The steepest rise was reported in house-building, although the pace of expansion eased to the lowest in five months. Civil engineering was the next-fastest growing, and was the only sub-sector to see a quicker increase than in December. At the same time, commercial activity rose only marginally.

New business placed at German constructors rose for the third month. The ongoing expansion in new work ensured that job creation was sustained in January.

German constructors reported the brightest outlook since the series began in 1999.

On the price front, purchasing costs in construction continued to increase sharply. The rate of inflation accelerated to the fastest in over four-and-a-half years.

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