Real SA Construction Orders M/M:
September -4.3%
August -1.2%
July +5.0%
June -1.1%
May -3.1%
April -6.0%
March -1.5%
February +16.1%
January -7.5%
December +5.8%
November -3.1%
October +2.3%
—–
FRANKFURT (MNI) – Construction orders in Germany declined further
in September, as ongoing weakness in civil construction demand more than
offset a gain in structural construction orders, the Bundesbank reported
Thursday.
Construction orders fell 4.3% on the month and were down 0.7% on
the year. Still, thanks to the exceptional jump in July, Q3 orders
posted a modest gain of 0.9% after -4.8% in Q2.
Adjusting for price changes, new construction business was 1.1%
lower on the year, data from the Federal Statistical Office showed
earlier Thursday. January-September orders posted an annual gain of
2.3%.
Residential building orders increased 1.6% from August to
September, while non-residential building orders plunged 17.5%. As a
result, overall structural construction new business decreased 11.3% on
the month. By contrast, civil construction orders rose 4.1% on the
month.
The latest PMI data showed that output grew again in October after
five straight months of decline, led both by residential and commercial
activity.
Conversely, civil construction activity dropped, as a result of
lower public sector spending. But the outlook for the coming is not as
positive:
“Almost 33% of survey respondents expect a fall in output in the
year ahead, compared with 13% that anticipate a rise,” Markit wrote in
early November.
The Ifo institute’s November survey showed builders’ outlook at the
six-month horizon declining further from the peak in the early part of
this year. But their assessment of current business climbed to a new
cyclical high
— Frankfurt bureau: +49 69 720 142; E-mail: frankfurt@marketnews.com —
[TOPICS: M$G$$$,M$X$$$,MAGDS$,M$XDS$]
