German Construction PMI At 9-Month High

Germany’s construction sector expanded at the fastest pace in nine months in December, driven by marked rise in new orders, survey figures from IHS Markit showed Thursday.

The construction Purchasing Managers’ Index rose to 54.9 in December from 53.9 in November. Any reading above 50 indicates expansion in the sector.

Housing activity remained the best performer out of the three categories monitored by the survey in December, followed by commercial building output. At the same time, civil engineering activity posted only a moderate growth.

Higher new work was a key factor behind the overall expansion in December. The latest rate of increase was the second-quickest on record.

Consequently, firms raised their staffing levels in December. The rate of job creation accelerated to a four-month high.

“However, price pressures appear a possible threat to the outlook. Both input costs and sub-contractor rates rose sharply,” Philip Leake, Economist at IHS Markit said.

The material has been provided by InstaForex Company – www.instaforex.com

The post German Construction PMI At 9-Month High appeared first on forexnewstoday.net.

German Construction PMI At 9-Month High

Germany’s construction sector expanded at the fastest pace in nine months in December, driven by marked rise in new orders, survey figures from IHS Markit showed Thursday.

The construction Purchasing Managers’ Index rose to 54.9 in December from 53.9 in November. Any reading above 50 indicates expansion in the sector.

Housing activity remained the best performer out of the three categories monitored by the survey in December, followed by commercial building output. At the same time, civil engineering activity posted only a moderate growth.

Higher new work was a key factor behind the overall expansion in December. The latest rate of increase was the second-quickest on record.

Consequently, firms raised their staffing levels in December. The rate of job creation accelerated to a four-month high.

“However, price pressures appear a possible threat to the outlook. Both input costs and sub-contractor rates rose sharply,” Philip Leake, Economist at IHS Markit said.

The material has been provided by InstaForex Company – www.instaforex.com

The post German Construction PMI At 9-Month High appeared first on forexnewstoday.net.