Activity in the German construction industry increased for the first time in four months in January, data from a survey by Markit Economics showed Monday.
The seasonally adjusted purchasing managers' index (PMI) for the construction sector increased to 53.2 in January from 49.3 in December. A PMI reading above 50 indicates expansion in the sector, while one below suggests decline.
New orders received by construction firms fell in January, though at a slower rate compared to December's 22-month high. Employment growth in the sector accelerated to the strongest in ten months, extending the current spell of jobs growth to 13 months.
Input price inflation faced by German constructors accelerated in January to the fastest since last October, due to the sharp rise in cost burdens.
Building construction increased sharply in January, helped by faster rise in residential activity. On the other hand, civil engineering work fell at a solid and accelerated rate, while commercial activity decreased marginally during the month.
(Market News Provided by RTTNews)