According to Markit PMI, the German construction sector grew at a faster pace during February 2017, following a slowdown at the start of 2017 that was linked to the cold weather.
Activity across the residential, commercial and civil engineering categories increased more quickly, with firms reporting the second-sharpest rise in new work since the survey began in 1999. Employment and purchasing both increased at faster rates, while the 12-month outlook remained historically strong.
Adjusted for seasonal factors, the headline Purchasing Managers’ Index® (PMI®) rose from a five-month low of 52.0 in January to 54.1 in February. The latest figure signalled a strong overall rise in German construction activity, and extended the current survey-record sequence of expansion to 25 months. Some firms commented that business had recovered following a very cold January.Growth of construction activity was broad-based across the residential, commercial and civil engineering sectors. Moreover, all three posted faster expansions than in January. The strongest growth was seen in civil engineering, which saw the second-sharpest increase in activity in nearly six years.
The construction sector was boosted by a sharp expansion in new work in February. New business rose for the fourth month running.
With both new work and total activity rising in February, construction firms purchased a greater quantity of inputs. The rate of expansion quickened from January and was broadly inline with the solid trend pace shown over the current 19-month sequence of growth. As a result, suppliers’ delivery times continued to lengthen significantly. Construction firms also stepped up recruitment to meet workloads, while the use of subcontractors also increased, having declined in January.
Read the article online at: https://www.worldcement.com/europe-cis/06032017/german-construction-industry-grows-at-fast-pace/
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