Germany’s construction sector grew at a maximum rate in 14 months in March

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In the construction sector of Germany in March, the maximum growth of business activity in 14 months was observed. According to the IHS Markit, the corresponding index was 55.6 points, having risen from the February level of 54.7 points. Last month, jobs were created at the fastest pace since January 2018. The growth of new orders was marked by construction companies for the seventh month in a row. They also pointed to increased consumer activity. The increase in the volume of construction work was observed for the third month in a row. Commodity prices fell to a 10-month low, but remained high. The cost of transportation expenses increased. As noted by IHS Markit’s chief economist Phil Smith, March data indicates the best construction results for the first quarter of this year since the third quarter of 2017.

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