Germany March construction PMI 48.0 vs 43.7 prior

Latest data released by HCOB - 8 April 2026 While overall business activity picked up in March, it belies the underlying mood in the sector as input cost inflation posts a record rise on the month. The pick up is helped by an improved mood in housing activity, posting its shallowest decline so far this year. In turn… While overall business activity picked up in March, it belies the underlying mood in the sector as input cost inflation posts a record rise on the month. The pick up is helped by an improved mood in housing activity, posting its shallowest decline so far this year. In turn, that makes commercial activity the weakest-performing segment in March. That being said, the latest survey showed a sharp deterioration in constructors' expectations for activity over the coming year. And that comes after having hit a six-year high in February. Of note, panellists reported concerns about demand and steep cost increases. That isn't a surprise considering the latest Middle East developments. For traders, the practical value is less about the headline alone and more about how it changes context, sentiment and the quality of the next decision. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.