trending Market Intelligence /marketintelligence/en/news-insights/trending/lxnj-rdevyhgphzil53gmg2 content esgSubNav
In This List

German construction sector growth dips in February

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


German construction sector growth dips in February

Germany's construction sector growth slid to a 13-month low in February after January's nearly seven-year high, purchasing managers' data from IHS Markit showed.

The seasonally adjusted headline Purchasing Managers' Index fell to 52.7 in February, from 59.8 the prior month.

"The one area of comparative weakness remained civil engineering, which showed a contraction for the third time in the past four months," IHS Markit Principal Economist Phil Smith said.

New construction orders rose for the 16th consecutive month, driving up input costs. Business optimism rose to the second-highest level since 1999. The rate of job creation dipped to a 12-month low though companies continued to add staff to keep up with the pace of increasing work.

Smith said: "January's spike in construction growth was helped by the unusually mild start to the year, so it was little surprise to see the sector retreat in February as winter weather conditions returned."