German construction output expanded at a two-year high in January, indicating fewer weather disruptions during the period.
Source: IHS Markit
IUKP.L is down 1.14%.
The IHS Markit Germany Construction Purchasing Managers’ Index grew to 54.4 in January from 48.2 the previous month. This is the highest since February 2020, reflective of better-than-usual weather conditions,
Residential projects grew at the fastest pace since January 2018, while civil engineering recorded its best performance in nearly three years. Moderate growth was recorded in commercial activity.
New work rebounded back to positive territory, marking the biggest jump in four years. This effectively ended the decline, which started during the onset of the COVID-19 pandemic in March 2020.
Employment posted growth for the fifth straight month, with the biggest expansion recorded since February 2020. Construction also recorded a steep increase in subcontractors, with the growth at the highest since September 1999.
Expectations for the year ahead turned optimistic for the second time in nearly two years, marking the highest level since February 2020.