German Construction PMI Shows Modest Recovery in November

2025-12-04 08:32 By Dongting Liu 1 min. read

The HCOB Germany Construction PMI rose to 45.2 in November 2025, rebounding from seven-month low of 42.8 in October, signaling a modest recovery while overall activity remains in contraction.

The rebound was primarily driven by civil engineering, which expanded for the fourth time in six months, offsetting continued weakness in housing and commercial construction, with residential activity particularly soft.

New orders fell further, reflecting weak demand, though employment increased for the first time in over three and a half years, ending a prolonged sequence of job cuts since April 2022.

Purchasing activity continued to decline, while supplier delivery times lengthened for the second month.

Input price inflation eased slightly, and subcontractor charges rose at a slower pace than last month, though still at a two-year high.

Despite the partial recovery, German constructors remain cautious about the year ahead amid soft demand, high costs, and elevated long-term interest rates.



News Stream
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German Construction PMI Shows Modest Recovery in November
The HCOB Germany Construction PMI rose to 45.2 in November 2025, rebounding from seven-month low of 42.8 in October, signaling a modest recovery while overall activity remains in contraction. The rebound was primarily driven by civil engineering, which expanded for the fourth time in six months, offsetting continued weakness in housing and commercial construction, with residential activity particularly soft. New orders fell further, reflecting weak demand, though employment increased for the first time in over three and a half years, ending a prolonged sequence of job cuts since April 2022. Purchasing activity continued to decline, while supplier delivery times lengthened for the second month. Input price inflation eased slightly, and subcontractor charges rose at a slower pace than last month, though still at a two-year high. Despite the partial recovery, German constructors remain cautious about the year ahead amid soft demand, high costs, and elevated long-term interest rates.
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