Germany July construction PMI 40.0 vs 39.7 prior ...Middle East

The decline in total activity eases for another month but it is still at relatively depressed levels. Employment conditions continued to fall as firms remain more pessimistic about the outlook for the sector, even more so than in June. HCOB notes that:“The most positive thing that can be said about these figures is that the slump in construction has slowed down a bit recently. This is especially true for commercial building activity and civil engineering projects, while residential construction took even a slightly bigger hit in July than in June. We expect a positive impetus in civil engineering from the general renovation of 40 railroad lines, which is scheduled to be completed by 2030 and

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