Latest data released by Markit - 4 June 2020
- Prior 31.9
The downturn in construction activity has eased a little but the details highlight that overall conditions remain subdued amid a sharp drop in new orders and employment, though lesser than that observed in April at least. Markit notes that:
"The latest PMI data point to another month of lower activity across Germany's constructor sector, albeit with the downturn easing since April and remaining less severe than in either manufacturing or services.
"The uncertain economic climate continues to weigh heavily on the inflow of new orders across the construction sector, which survey data show are down considerably from preCOVID-19 levels. Furthermore, firms are fearful of a lasting impact, expecting both the private and public sector to be less forthcoming with tenders and orders.
"Given how the picture has changed since the start of the year and how firms have had to reassess their expected activity over the months ahead, we continue to see some retrenchment across the sector, though generally less than in other areas of the economy."
