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.
