German Construction Activity Continues To Shrink

RTTNews | 943 dagar sedan

(RTTNews) - The downturn in Germany's construction sector continued in December as spiraling prices, rising interest rates and weak investment dampened activity, survey results from S&P Global showed on Thursday.

The headline Construction Purchasing Managers' Index registered 41.7 in December, up from 41.5 in November.

The reading is still firmly below the 50.0 threshold that separates growth from contraction.

Among three construction categories, housing activity was the weakest performing by far. Housing posted its biggest decline since February 2012 and commercial activity declined the most since last September. Meanwhile, the decline in civil engineering eased noticeably.

Companies reduced their purchasing activity for the ninth month in a row. Similarly, there was another reduction in employment. The pace of job shedding was the fastest since last September largely due to the non-replacement of leavers.

The continued fall in demand for both building materials and products alleviated the pressure on construction supply chains.

The survey showed that input prices fell sharply for a second straight month, taking it to its lowest since December 2021.

German constructors remained deeply pessimistic about the outlook in December but recovered further from last October's near-record low.

Data published earlier in the day showed an unexpected decline in exports in November signaling that the economy is sliding into a mild recession. Exports decreased 0.3 percent on a monthly basis, reversing a 0.8 percent rise in October. Meanwhile, imports registered a sharper fall of 3.3 percent.

Taggar: EUR

Eurozone Private Sector Continues To Expand

Euro area private sector remained in the expansionary territory in July but the rate of growth remained sluggish as stagnant demand pulled back production, final survey results of the purchasing managers' survey by S&P Global showed on Tuesday. The HCOB composite output index rose to 50.9 in July from 50.6 in June. The flash reading was 51.0. A score above 50.0 indicates expansion.

RTTNews | 4h 26minuter sedan

Eurozone Investor Sentiment Weakens Unexpectedly

Euro area investor confidence deteriorated unexpectedly in August as the newly reached trade deal with the U.S. deepened concerns about the current economic situation as well as the outlook, data from the behavioral research institute Sentix showed on Monday. The Sentix investor sentiment index fell steeply to -3.7 in August from 4.5 in July. The measure was expected to climb to 6.2.

RTTNews | 1 dag sedan

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.

RTTNews | 4 dagar sedan

Eurozone Manufacturing Activity Moves Closer To Stagnation

The euro area manufacturing activity registered a broad stabilization in July as output continued to increase despite a fresh fall in new orders, purchasing managers' survey compiled by S&P Global showed on Friday. The HCOB final manufacturing Purchasing Managers' Index rose to a three-year high of 49.8 in July from 49.5 in June. The score matched the flash estimate.

RTTNews | 4 dagar sedan

German Unemployment Rises In July

Germany's unemployment increased less than expected in July but the overall number of people out of work remained close to the 3 million mark due to the prolonged period of economic slowdown, official data revealed on Thursday. The number of unemployed rose by less-than-expected 2,000 from June, the Federal Employment Agency said. For July, economists had forecast an increase of 15,000.

RTTNews | 5 dagar sedan

Eurozone Jobless Rate Unchanged At 6.2%

The euro area unemployment rate remained stable in June despite slowing economic growth and challenging global trade situation, official data revealed on Thursday. The jobless rate came in at seasonally adjusted 6.2 percent, the same rate as seen in May and down from 6.4 percent in the same period last year, Eurostat said Thursday.

RTTNews | 5 dagar sedan

Eurozone Economy Fares Better Than Expected In Q2

The euro area economy logged better-than-expected growth in the second quarter but the pace of expansion slowed markedly as the first quarter performance was inflated after U.S. importers frontloaded their orders to reduce the cost burden of higher tariffs. Gross domestic product grew 0.1 percent sequentially, after rising 0.6 percent in the first quarter, preliminary flash estimate from Eurostat.

RTTNews | 6 dagar sedan

Eurozone Economic Confidence Rises To 5-Month High

Euro area economic sentiment improved to a five-month high in July largely driven by stronger confidence in industry, services and retail trade, survey data from the European Commission showed Wednesday. The economic sentiment index rose to 95.8 in July from 94.2 in the previous month. This was the highest reading since February and remained above forecast of 94.5.

RTTNews | 6 dagar sedan

EURUSD	1.15795	GBPUSD	1.33092	AUDUSD	0.64744
USDJPY	147.56	USDCAD	1.37796	USDCHF	0.80741

Advertisement

German Construction Activity Continues To Shrink