Orders at large and medium-sized German construction firms declined in June by 0.1 per cent on the month in seasonally adjusted terms, the third consecutive monthly fall, Bundesbank data showed today.
Year-on-year, construction orders in Europe's largest economy rose 0.1 per cent, the first annual gain since January, the German central bank said on its Web site. In May, orders fell 4.8 per cent on the month, and by 5.8 per cent year-on-year.
Earlier, unadjusted figures from the Federal Statistics Office showed orders were up 1.6 per cent on the year in June. Orders for buildings increased by 4.6 percent, while new civil engineering projects fell by 1.5 per cent, the Office said.
Total sales in the trade were up by 5.3 per cent in June to €7.7 billion, whereas employment declined by 2.4 per cent to 703,000 workers, the Office added.
In the January-June period, orders were down by 0.3 per cent on the year in price adjusted terms. By contrast, sales during the first half were up by 7.2 per cent, the Office said.