German Construction PMI Rises To 16-Month High

RTTNews | 103 gün önce

(RTTNews) - Germany's construction sector activity contracted at the slowest pace in 16 months in September, survey results from S&P Global showed on Friday.

The construction Purchasing Managers' Index rose to 41.7 from 38.9 in the previous month. This was the highest since May 2023. However, the score remained below 50.0, indicating contraction.

There were softer declines in both housing and commercial activity, with the former still the worst performing of the three broad categories. Civil engineering recorded a slightly quicker reduction in activity.

The survey showed an accelerated fall in new orders as market uncertainty, tight financial conditions and high costs weighed on demand.

Incoming new work led companies to reduce workforce numbers in September, continuing the trend seen throughout the past two-and-a-half years.

Construction companies made deeper cuts to purchasing activity, which exhibited the sharpest fall in three months. Driven by weak demand for inputs, combined with lower fuel and commodity prices, average purchasing costs posted another fall.

There was further downward pressure on rates charged by subcontractors amid a notable improvement in their availability. The decline in rates charged was in fact the steepest seen since November 2012.

The survey showed deterioration in business expectations across the construction sector. Sentiment towards activity in the year ahead worsened considerably since August and was the weakest in 2024 so far. Falling new orders, the general health of economic conditions, and policy uncertainty were common concerns among businesses.

"The construction sector is starting to show some faint signs of life again, but we should not get carried away," Hamburg Commercial Bank Chief Economist Cyrus de la Rubia said. "Overall, things still look pretty bleak in the construction sector."

Etiketler: EUR

German Economy Stuck In Recession

The German economy shrank for the second straight year in 2024 as the euro area struggles with global headwinds and the political and structural problems on the domestic front. Gross domestic product contracted 0.2 percent in 2024 after a 0.3 percent decline in 2023, Destatis reported Wednesday.

RTTNews | 8s 58 dakika önce

German Industrial Output & Exports Recover

Germany's industrial production and exports rebounded in November but the underlying picture remained pretty grim amid job cuts in manufacturing and the possible hike in trade tariffs by the U.S. Industrial output increased a more-than-expected 1.5 percent on a monthly basis, in contrast to the revised 0.4 percent decrease in October, data from Destatis revealed Thursday.

RTTNews | 6 gün önce

Eurozone Retail Sales Rise Less Than Forecast

Driven by food and auto fuel turnover, Eurozone retail sales registered a marginal growth, which was weaker than expected in November, reflecting subdued household consumption towards the end of 2024. Retail sales grew 0.1 percent on month in November after easing 0.3 percent in October, data from Eurostat showed Thursday. Sales were expected to climb 0.3 percent.

RTTNews | 6 gün önce

Eurozone Economic Sentiment Deteriorates Sharply

Euro area economic confidence deteriorated to the lowest in more than a year in December as the improvement in services sentiment was offset by weaker morale in industry, construction and among consumers. The economic sentiment index dropped more-than-expected to 93.7 in December from 95.6 in the previous month.

RTTNews | 7 gün önce

German Factory Orders Fall Sharply In November

German factory orders declined notably in November due to the sharp decrease in orders for transport equipment, suggesting that the manufacturing sector remains deep in recession. New orders registered a monthly fall of 5.4 percent in November, Destatis reported Wednesday. The pace of decline deepened from 1.5 percent in October and was worse than economists' forecast of 0.3 percent drop.

RTTNews | 7 gün önce

Acceleration In Eurozone Inflation Signals Slower ECB Rate Cuts

Euro area inflation accelerated for the third straight month to the fastest in five months in December, suggesting that the European Central Bank will be cutting interest rates more slowly than anticipated. The harmonized index of consumer prices climbed 2.4 percent from a year ago, following a 2.2 percent gain in November, preliminary data from Eurostat showed on Tuesday.

RTTNews | 8 gün önce

German Construction Activity Remains Firmly In Recession Zone

Germany's construction sector remained deep in the recession zone in December as political uncertainties damped orders, survey data from S&P Global showed on Tuesday. The HCOB construction Purchasing Managers' Index dropped to 37.8 in December from 38.0 in November. The score was the lowest since last April and signaled a notable contraction in the sector.

RTTNews | 8 gün önce

German Inflation At 11-Month High Unlikely To Worry ECB Policymakers

Consumer price inflation in Germany rose for a third month in a row, and at a faster than expected pace in December, to its highest level in 11 months led by higher food prices and services costs, though policymakers at the European Central Bank are likely to be less concerned at the recent spike in price pressures and press ahead with another interest rate reduction in the next policy session.

RTTNews | 9 gün önce

EURUSD	1.032	GBPUSD	1.22618	AUDUSD	0.62295
USDJPY	156.289	USDCAD	1.43347	USDCHF	0.91071