7th Nov 2013 08:46
BERLIN (Alliance News) - German construction sector expanded for a sixth month running in October, driven by solid growth in work on commercial projects, a survey by Markit Economics revealed Thursday.
The headline purchasing managers' index, a measure of the construction sector performance, rose to 52.6 in October from 52.1 in September. A PMI reading above 50 indicates expansion of the sector.
Growth was supported by higher levels of both housing and commercial activity during the month, Markit said in the survey report. Although housing was up only modestly, commercial activity increased at a solid and accelerated rate.
The level of civil engineering work, meanwhile, fell for a second consecutive month following a solid upturn in August, the survey found.
New order intakes at constructors decreased in October, but the decline was only marginal. The pace of job creation also remained marginal, Markit said.
Copyright RTT News/dpa-AFX