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2026-04-08 16:02:02
[German Construction PMI Rises to 48.0 as Sector Contraction Slows] ⑴ The S&P Global German Construction Purchasing Managers' Index rose to 48.0 in March 2026, up from 43.7 in February, indicating a slowdown in the overall contraction of activity. Residential activity recorded its slightest decline this year, while civil engineering activity expanded at an accelerating pace. ⑵ Commercial construction remained the weakest sector, with its decline only slightly easing. The decline in employment and purchasing volumes also slowed compared to February. Meanwhile, new orders saw their fastest drop since July 2025, reflecting weak demand and cost pressures related to the Middle East conflict. ⑶ Input price inflation recorded a record monthly increase, the highest level since October 2022, driven by rising energy, fuel, and transportation costs. Supply chain delays worsened, with delivery times for building materials extending to their longest level in nearly three and a half years. (4) As builders cited rising costs and weakening demand as major concerns, industry business expectations declined sharply, turning negative for the first time since 2026.
