In August this year, Germany's construction sector indicated only a marginal decrease in output, remaining above the neutral 50.0 threshold, according to Markit's seasonally adjusted Germany Construction Purchasing Managers' Index (PMI). The index was at 50.3 in August, down from July's reading of 50.6.
In August, German construction companies noted construction PMI dropped to a seven-month low, while the companies increased their purchasing activity.
““Germany’s construction sector stuttered ahead in August, with the headline PMI indicative of a near stagnation in building output. The marginal increase in overall construction output was attributed to fractional growth in work on residential and commercial building projects, while civil engineering activity contracted at the fastest pace in almost a year,” Oliver Kolodseike, economist at Markit, commented.