German Construction Activity Continues To Shrink

RTTNews | 1346 days ago

(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.

Tags: EUR

ECB Raises Deposit Rate To 2.50% Amid Inflation Fears

The European Central Bank raised interest rates on Thursday, as expected, prompted by the fears of an inflation shock as energy prices surge amid the recent escalation of the Iran war.

RTTNews | 2 days ago

German Exports Fall For First Time In 6 Months

Germany's exports decreased for the first time in six months in July but the trade surplus increased more than expected due to the notable fall in imports, official data showed on Tuesday. Exports decreased 0.8 percent on a monthly basis in July, in contrast to the 0.9 percent increase in June, Destatis said.

RTTNews | 4 days ago

Eurozone Economic Growth Revised Up To 0.6%

The euro area economy expanded more than initially estimated in the second quarter, underpinned by exports and consumer spending, revised data from Eurostat showed Monday. Gross domestic product grew 0.6 percent sequentially after remaining flat in the first quarter. The second quarter growth was revised up from 0.4 percent estimated previously.

RTTNews | 5 days ago

Eurozone Investor Confidence Strongest Since 2022

Eurozone investor sentiment rose for the fifth straight month in September, reaching its highest level since early 2022, survey data from the behavioral research institute Sentix showed Monday. The investor sentiment index climbed more-than-expected to 5.1 in September from 0.9 in August. The reading was seen at 2.1. The latest reading was the highest since February 2022.

RTTNews | 5 days ago

German Industrial Output Falls Most In 11 Months

Germany's industrial output declined at the fastest pace in almost a year in July, largely reflecting a multi-week production shutdown in the automotive industry, official data revealed Monday. Industrial production fell 1.1 percent on a monthly basis in July after remaining flat in June. This was the biggest decline since last August, when output was down 2.1 percent.

RTTNews | 5 days ago

German Factory Orders Growth Beats Expectations

Germany's factory orders grew more than expected in July, reflecting the strong order growth in the manufacture of ships, railway rolling stock and aircraft, official data revealed Friday. Factory orders increased 2.5 percent on a monthly basis in July but slower than the revised 3.7 percent expansion seen in June. Orders were expected to rise 0.3 percent.

RTTNews | 8 days ago

Eurozone Private Sector Logs Robust Growth

The euro area private sector posted robust growth in August as the industrial economy gained momentum and services activity expanded for a second consecutive month, final survey data from S&P Global showed Thursday. The final composite output index posted 52.0 in August, unchanged from July's eight-month high and slightly down from the flash score of 52.1.

RTTNews | 9 days ago

Eurozone Manufacturing Growth Fastest Since 2022

The euro area manufacturing sector expanded at the strongest pace since 2022 in August, final data from S&P Global showed on Tuesday. The manufacturing Purchasing Managers' Index hit a 51-month high of 52.7 in August from 51.9 in July. The reading was slightly down from the flash estimate of 52.8. Both factory output and incoming new orders increased at their fastest rates since early-2022.

RTTNews | 11 days ago

EURUSD	1.1598	GBPUSD	1.3518
USDJPY	153.62	USDCAD	1.387