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Germany Construction Activity Expands At Fastest Pace In 7 Months

Germany's construction sector expanded at the fastest pace in seven months in November, survey data from IHS Markit showed Thursday.

The construction Purchasing Managers' Index rose to 52.5 in November from 51.5 in October. The score signaled the fastest growth in seven months.

The overall expansion was driven by an upturn in housing activity. The drag on overall activity from civil engineering eased, while commercial was the worst-performing construction sub-sector.

New orders grew for the first time in seven months. Job creation accelerated in November but the pace of growth was still below the average since July 2015.

On the price front, data showed that input prices rose slowly, with the rate of inflation weakest in almost four years. Data showed the slowest rise in sub-contractor rates since January 2017.

Further, November's survey showed ongoing concerns among constructors about the outlook for activity over the year ahead.

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