Germany October construction PMI 40.2 vs 41.7 prior ...Middle East

German construction activity slumped further in October, with both activity and new orders declining at a quicker pace. Adding to that is another notable round of retrenchment, highlighting rougher employment conditions. All main sectors showed a decline in activity, with housing once again being the worst performer. HCOB notes that:“The downturn in Germany's construction sector intensified in October. Analysing the headline activity index, one could identify a tentative trend reversal during the summer months up until September. However, the latest survey results contradict this interpretation, unfortunately indicating that there is still no sustained improvement in the German construction

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