August construction activity increases, Germany

August construction activity increases, Germany
07 September 2010

Germany’s construction activity increased in August from the previous month, but the reading was still below the neutral 50.0 mark, a report by the Markit Economics showed on Monday.

The seasonally adjusted construction purchasing managers’ index, or PMI, rose to 48.5 in August from 44.8 recorded in July. A PMI reading below 50 suggests contraction in the sector, while above 50 indicates expansion. The latest reading was above the long-run series average of 44.8.

Among the three broad areas of the construction sector, civil engineering and commercial construction sector declined in August. However, residential construction was broadly unchanged.
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