Business activity in the construction sector in Germany increased in August

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The purchasing managers' index in the construction sector in Germany increased in August to 51.5 points from 50 points in July, IHS Markit poll showed. The largest construction activity was recorded in civil construction, while the growth in activity in infrastructure and commercial construction was moderate. In August, new orders dropped, and builders hired additional staff. The growth of average prices for building materials and products has sharply accelerated. Some companies link the increase in purchasing prices to the consequences of new road charges. The level of optimism among builders relative to activity in the next 12 months was the lowest since November 2016.

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