Germany May construction PMI 38.5 vs 37.5 prior

• Prior 37.5

It’s only a marginal improvement in German construction activity on the month. But overall, conditions are still in the dumps with new orders slumping hard once again. Of note, firms are also seen continuing to retrench accordingly, scaling back both purchasing activity and employment. The housing sector remains the worst performer but the declines are also broad-based in the commercial and civil engineering sectors.

This article was written by Justin Low at www.forexlive.com.