FOREX TradingCharts.com

Financial News: German Construction PMI Signals Further Downturn In May

German Construction PMI Signals Further Downturn In May

06/07/2022 - 10:27:00 (RTTNews)

(RTTNews) - Germany's construction activity showed a further downfall in May as demand was dampened amid rising price pressures, material shortages and uncertainty among clients, survey results from S&P Global showed on Tuesday.

The construction Purchasing Managers' Index fell to a nine-month low of 45.4 in May from 46.0 in April. Any reading below 50 suggests contraction in the sector.

Among the three monitored categories, civil engineering activity recorded the sharpest rate of decline and work on residential building projects fell at the quickest pace since February 2021. Meanwhile, commercial activity contracted at a slightly slower rate, though still marked overall.

New orders fell for the third straight month in May on rising price pressures and higher borrowing rates along with growing caution among clients due to an uncertain economic outlook.

Input price inflation remained strong in May as construction firms continued to face cost burdens for materials and products. The latest rise in inflation was closer to last year's survey record highs.

As a result, product delivery delays remained historically high in May despite easing from the previous two months.

Construction companies reduced their employment and use of subcontractors as a result of lower activity and demand.

"Constructors are expecting these challenging conditions to persist in the coming year, leading to the gloomiest forecasts for future activity since the first wave of the pandemic more than two years ago, " Phil Smith, economics associate director at S&P Global Market Intelligence, said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Hungary Trade Balance Swings To Deficit (30 min(s), 18 sec(s) ago)
(RTTNews) - Hungary's trade balance swung to a deficit in April, as imports rose more than exp ...Full Story»

Poland Inflation Accelerates In June (26 min(s), 18 sec(s) ago)
(RTTNews) - Poland's consumer price inflation continued to increase in June, mainly driven by ...Full Story»

Austria Inflation Highest Since September 1975 (29 min(s), 18 sec(s) ago)
(RTTNews) - Austria's consumer price inflation rose to the highest level since September 1975, ...Full Story»

U.S. Construction Spending Unexpectedly Edges Down 0.1% In May (07 min(s), 18 sec(s) ago)
(RTTNews) - Reflecting a decrease in spending on public construction, the Commerce Department rele ...Full Story»

U.S. Manufacturing Index Drops To Two-Year Low In June (56 min(s), 18 sec(s) ago)
(RTTNews) - The Institute for Supply Management released a report on Friday showing its reading on ...Full Story»

Mexico Business Confidence Weakens In June (41 min(s), 18 sec(s) ago)
(RTTNews) - Mexican business confidence decreased for the second straight month in June, though sl ...Full Story»

Eurozone Inflation Reaches New Record High (11 min(s), 18 sec(s) ago)
(RTTNews) - Eurozone inflation accelerated further to a new record high in June, while core inflat ...Full Story»

Amended: Brazil Producer Price Inflation Rises In May (09 min(s), 18 sec(s) ago)
(RTTNews) - Correction: The latest data available is for May Brazil's producer price infl ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Hungary Trade Balance Swings To Deficit

07/01/2022 - 12:24 PM (RTTNews)
(RTTNews) - Hungary's trade balance swung to a deficit in April, as imports rose more than exp ...Full Story>>

Austria Inflation Highest Since September 1975

07/01/2022 - 12:23 PM (RTTNews)
(RTTNews) - Austria's consumer price inflation rose to the highest level since September 1975, ...Full Story>>

Poland Inflation Accelerates In June

07/01/2022 - 12:20 PM (RTTNews)
(RTTNews) - Poland's consumer price inflation continued to increase in June, mainly driven by ...Full Story>>

U.S. Construction Spending Unexpectedly Edges Down 0.1% In May

07/01/2022 - 11:01 AM (RTTNews)
(RTTNews) - Reflecting a decrease in spending on public construction, the Commerce Department rele ...Full Story>>

U.S. Manufacturing Index Drops To Two-Year Low In June

07/01/2022 - 10:50 AM (RTTNews)
(RTTNews) - The Institute for Supply Management released a report on Friday showing its reading on ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.