The German construction sector registered a sharp slowdown in activity growth in March as Ukraine war dampened demand, prices as well as supply, survey results from S&P Global showed on Wednesday.
The construction Purchasing Managers’ Index fell to 50.9 in March from a two-year high of 54.9 in February. Nonethless, a score above 50.0 indicates expansion in the sector.
The slowdown was led by the residential sector, which after recording strong growth in the prior two months, logged a renewed contraction.
Work on commercial building projects continued to increase, though the pace of expansion eased considerably. At the same time, civil engineering activity maintained the most momentum in March.