Germany’s construction sector softened for the tenth month in a row in January. The pace of of the slump slowed, however, according to data from the latest Markit Economics survey. The Purchasing managers’ index for the construction sector increased from 43.3 percent in December to 47.7 in January, suggesting a less-negative outlook. Index results that fall below 50 indicate an overall decline in activity.
The pace of contraction was most pronounced in housing and commercial construction in the most recent figures, but little improvement was seen in in civil engineering.
Employment in the sector dropped for the second month in a row, but the rate of job-losses eased. At the same time, contractor faced a rise in average purchase prices in January, which was partly attributed to higher raw material and energy costs.
