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- Germany's construction PMI decreases to 55.8 in March
Germany's construction PMI decreases to 55.8 in March
Markit Economics released construction purchasing managers' index (PMI) for Germany on Wednesday. Germany's construction PMI decreased to 55.8 in March from 59.6 in February.
A reading above 50 indicates expansion in the sector.
The index was mainly driven by a softer growth in new orders and purchasing activity.
"Despite falling to a three-month low in March, the Germany Construction PMI signalled a sharp rise in building activity, thereby adding to hopes that the sector will contribute positively to economic growth in the opening quarter of the year," an economist at Markit, Oliver Kolodseike, said.
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