German construction sentiment improves in July, says Jefferies

Investing.com -- The German construction sector showed continued improvement in July, according to Jefferies analysis of the Ifo business climate index, though conditions remain below levels seen before the Iran conflict.

The Ifo business climate index for German construction rose for the second consecutive month in July. Both assessments of the current situation and expectations for the future became less negative compared to previous months.

Order books in the sector grew in the mid-single digits on a monthly basis in May and were up 3.5% compared to the same period last year.

Price data from June showed the largest monthly increases in adhesives, which rose 1.6%, and mortars, which gained 1.4%. On an annual basis, cement and insulation materials recorded the smallest price increases among construction materials.

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