Latest data released by Markit - 4 February 2021
- Prior 47.1
A rough start to the new year for the German construction sector as the downturn in commercial building projects continues, with civil engineering activity also declining but at a roughly similar rate of contraction as to December. Markit notes that:
"January's survey pointed to a challenging start to the year for the constructor sector, not least because of the signs of increasing cost pressures resulting from emerging supply chain bottlenecks.
"The construction sector's performance continues to be held back by a sustained downturn in commercial activity, due to the financial pressures created by the epidemic and an unwillingness among businesses to invest in leisure and office space whilst much of it remains closed or underutilised.
"Uncertainty and pressure on client budgets are resulting in a shortfall of new work, which is also a source of concern going forward, with constructors remaining pessimistic about the year-outlook, contrary to the picture in manufacturing and services."
