Latest data released by Markit - 5 August 2021
- Prior 47.0
Supply shortages continue to weigh on German construction activity last month, with activity and new orders both seeing a decline. Meanwhile, employment conditions suffered at the quickest pace since October last year. Markit notes that:
"Construction activity in Germany remained deep in contraction territory in July as the sector continues to be constrained by supply bottlenecks and sharp rates of inflation. Cost have risen at record rates over the last four survey periods, with the pace of increase quickening sharply in July.
"Meanwhile, civil engineering and commercial activity saw solid declines once again. The only real area of encouragement is housing, where its recovery gained momentum.
"Constructors remain widely pessimistic about their growth prospect, with shortages at the centre of negativity. With supply chain pressures expected to persist, and COVID-19 cases rising across the globe, we are likely to see sharp price pressures continue as we head into the second half of the year."
