India, March 6 -- Germany's construction sector continued to contract and the pace of decline worsened in February, survey results from S&P Global showed on Thursday.
The HCOB construction Purchasing Managers' Index registered 41.2 in February, down from January's 20-month high of 42.5. The reading remained well below 50.0 indicating contraction.
The decline in activity was broad-based by sub-sectors, with rates of decline accelerating in all three cases. While housing activity remained the worst-performing segment, civil engineering was the most resilient. At the same time, the decline in commercial activity was in the middle of the other two.
The reason for the sustained downturn in activity was a lack of incoming new orders. Firms cit...