- Prior 48.2
The headline reading jumps to a near two-year high amid a surge in housing sector activity, with work on residential projects rising to the greatest extent since January 2018. Both commercial and civil engineering activity also saw modest expansions, contributing to the better performance overall. Markit notes that:
"The Construction PMI pointed to a bright start to the year for the sector and completed an all-round better performance across the German economy in January following positive survey data on manufacturing and services.
"Given the degree of the upturn in activity, better-thanusual weather during the month was likely a factor, though a fifth straight monthly rise in employment and greater business confidence towards the outlook suggest that underlying fundamentals have improved of late.
"Elevated price pressures remained a concern for building companies, though even on this front there was some cause for optimism as the rate of input cost inflation retreated further from last July's record high to a ten-month low.
"The headwinds to the sector from supply bottlenecks eased in January. The incidence of delays on building materials and products was the lowest since February 2021, although supply still has some way to go to catch up with demand."
