German construction PMI falls to ten-month low in June

Tuesday, 26 July 2016 17:19:44 (GMT+3)   |   Istanbul
       

In June this year, Germany's construction sector PMI indicated a decrease to 50.4 from 52.7 recorded in May, decreasing to a ten-month-low, according to Markit's seasonally adjusted Germany Construction Purchasing Managers' Index (PMI). 
 
Latest survey data signalled a second successive monthly decline in civil engineering activity. The rate of contraction was moderate, but nonetheless the most marked since last August.

“The recovery in Germany’s construction sector appears to be losing its legs at the end of the second quarter, with latest survey results pointing to a marked slowdown in growth of German building activity. The PMI is now close to a level that is normally consistent with a stagnation of construction output, dragged down by declines in both commercial building and civil engineering activity. Although housing shortages and the inflow of refugees should help maintain growth of residential building activity in the near term, companies were the least optimistic about their future since the end of last year,” Oliver Kolodseike, economist at Markit, commented.

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