Economic Buzz: German Construction Sector Declines In June

6 Jul 2022 , 02:42 PM

Germanys construction sector activity deteriorated for the third successive month in June, as demand for building was dampened amid the woes of heightened economic uncertainty, rising building costs and higher interest rates, survey results from S&P Global showed. The construction Purchasing Managers Index increased slightly from a nine-month low of 45.4 in May to 45.9 in June. New orders fell for the fourth straight month in June, linked to growing hesitancy amongst customers due to unfavorable economic conditions, the high cost of building work and rising interest rates. Powered by Commodity Insights