July 04, 2024 at 08:30AM
Prior 38.5
Though an improvement, the reading is still a very poor one and reflects the massive struggle in Germany’s construction sector. Total activity is still seen contracting but at the slowest pace in 10 months while new orders saw its softest drop in 16 months at least. While housing activity is continuing to pick up, it is still the worst performing category with all three main sectors are still largely in contraction territory. So, any signs of improvement should be taken with a pinch of salt.
This article was written by Justin Low at www.forexlive.com.
