Economic Buzz: German Construction PMI Stays In Contraction In December

6 Jan 2022 , 03:55 PM

Germanys construction sector contracted at a slower pace in December, survey results from IHS Markit showed on Thursday. The construction Purchasing Managers Index rose to 48.2 in December from 47.9 in the previous month. A score below 50.0 indicates contraction in the sector. Among three broad categories monitored by the survey, civil engineering activity remained the weakest-performing segment. The decline in commercial activity also moderated, while work on residential projects fell at a marginal rate that was little-changed since November. New work decreased at a moderate pace in December. Employment rose for the fourth consecutive month. On the cost front, input price inflation remained elevated by historical standards but dipped to a nine-month low amid fewer reports of supply delays.

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