In February this year, Germany's construction sector recorded growth to 59.6, rising by 1.7 percentage points on month-on-month basis, increasing almost to the peak of the last ten years, according to Markit's seasonally adjusted Germany Construction Purchasing Managers' Index (PMI). The index was at 57.9 in January.
The German construction sector remained in good health in February, with building activity continuing to rise strongly. Moreover, companies reported the sharpest increases in employment and new business in the survey’s history and optimism towards the 12-month outlook hit a near ten-year high.
“Germany’s construction sector powered ahead in February with the headline PMI reaching its highest level in nearly five years. Residential building activity remained the main pillar of the upturn, increasing at the strongest rate in the sixteen-and-a-half year survey history. Meanwhile, record rises in new business and employment are supportive of hopes that growth can be sustained.” Oliver Kolodseike, economist at Markit, commented.