Real SA Construction Orders M/M:
October +5.9%
September -4.4%
August -0.9%
July +5.2%
June -1.4%
May -3.0%
April -5.1%
March -1.9%
February +16.0%
January -7.7%
December +5.3%
November -2.7%
—–
FRANKFURT (MNI) – Construction orders in Germany rebounded in
October, as structural orders recovered and demand for civil
construction demand remained strong, the Bundesbank reported on Tuesday.
On the month, construction orders rose by a seasonally adjusted
5.9%, the strongest rise since February, boosting the annual change to
+3.1%.
Earlier today, the Federal Statistical Office reported that orders
had grown 1.1% on the year.
Overall structural construction new business jumped 6.7% between
September and October, as the 14.7% upturn in non-residential building
orders more than offset the 6.9% slide in residential orders. On the
year, overall structural construction was up 5.3%.
Civil construction increased 5.1% in October, adding to September’s
rebound and lifting the annual change to +1.0%.
Construction firms polled in the latest purchasing managers index
(PMI) reported stronger new orders, which supported the acceleration in
output growth and helped to lift the overall PMI figure to a
near-three-year high of 53.8 in November.
The European Commission also noted that construction firms’ new
orders assessment had improved in November. With the trend in activity
still well above the long-run average, the sector sentiment indicator
continued to improve, rising to its highest level since September 2006.
However, while firms cited in this month’s Ifo institute grew more
confident about business developments come next summer, the PMI survey
showed that optimism regarding the 12-month outlook weakened due to
concerns over public sector demand prospects.
— Frankfurt bureau: +49 69 720 142; E-mail: frankfurt@marketnews.com —
[TOPICS: M$G$$$,M$X$$$,MAGDS$,M$XDS$]