Berlin, Apr. 6, (dpa-AFX/GNA) - The German construction sector registered a sharp slowdown in activity growth in March as the war in Ukraine dampened demand, prices as well as supply, according to survey results from S&P Global on Wednesday.
The construction Purchasing Managers’ Index fell to 50.9 in March from a two-year high of 54.9 in February. Nonetheless, a score above 50.0 indicates expansion in the sector.
The slowdown was led by the residential sector, which after recording strong growth in the prior two months, logged a renewed contraction. Work on commercial building projects continued to increase, though the pace of expansion eased considerably. At the same time, civil engineering activity maintained the most momentum in March.
GNA